EPFO payroll data: 15.29 lakh net subscribers added in January

Retirement fund body Employees Provident Fund Organisation (EPFO) added 15.29 lakh net subscribers in January 2022, an increase of 2.69 lakh as compared to the net additions during the previous month of December, 2021. The net addition in EPFO subscriptions indicates the formalisation of the job market and the coverage of social security benefits to the organised and semi-organised sector workforce.

Of the total 15.29 lakh net subscribers added during the month, around 8.64 lakh new members have been registered under the social security ambit of EPF & MP Act, 1952 for the first time, according to provisional payroll data by the Ministry of Labour and Employment.

“Approximately 6.65 lakh net subscribers exited but re-joined EPFO by continuing their membership with EPFO instead of opting for final withdrawal,” the data highlighted.

The payroll data also reflects a declining trend in the number of members exited since July 2021, it added.

The age-wise comparison showed that the age group of 18-25 years had registered the highest number of net enrolments with 6.90 lakh additions during January, which was around 45.11% of total net subscribers added during the month. This was followed by the age group of 29-35 years, with a healthy addition of around 3.23 lakh net enrolments.

“This indicates that many first-time job seekers are joining organised sector workforce in large numbers and signifies a crucial stage for an individual’s potential in terms of earning capacity,” the ministry said.

State-wise comparison of payroll figures highlighted that the establishments covered in the states of Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka were in lead by adding approximately 9.33 lakh subscribers during the month, which was around 61% of total net payroll addition across all age groups.

Gender-wise analysis indicated that net female payroll addition during the month was approximately 3.20 lakh. The share of female enrolment was around 21% of the total net subscribers addition during January, with an increase of 57,722 net enrolments over the previous month of December, 2021.

Industry-wise, ‘expert services’ category (consisting of manpower agencies, private security agencies and small contractors etc.) constituted 39.95% of total subscriber addition during the month. In addition, a growing trend in net payroll additions has been noted in industries like expert services, engineering contractors, trading (commercial establishments), and building and construction industry.