Net payroll additions under employees provident fund organisation (EPFO) declined 23.1% month-on-month (MoM) in October to 12.92 lakh members as compared to 16.82 lakh members in September this year, according to the latest data released by the ministry of labour and employment on Tuesday. According to the government, around 2,282 new establishments in October have started complying for the first time under the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952, ensuring social security cover to their employees.

According to the government, 21,026 new members were added in October this year as against the same period last year. Of the total 12.94 lakh members added in October, around 7.28 lakh new members have been covered under social security cover of EPFO for the first time, followed by the age group of 22-25 years with 1.97 lakh members. Out of total new members, approximately 57.25% are from the age-group of 18-25 years.

During the month, around 5.66 lakh net members exited but rejoined EPFO by changing their jobs within the establishments covered by EPFO and opted to transfer their funds from previous PF account to the current account instead of opting for final settlement.

In terms of gender-wise employment, the net female employment during the month stood at 2.63 lakh in October. Of this, 1.91 lakh females have joined EPFO for the first time which is around 72.73% of net female member addition during the month.

“State-wise payroll figures highlight that month-on-month growing trend in net member addition was observed in states of Kerala, Madhya Pradesh, Jharkhand etc. In terms of net payroll addition during the month, top five states constituted around 60.15% of the total net payroll addition among all age groups. The states of Maharashtra, Karnataka, Tamil Nadu, Delhi & Haryana have added approximately 7.78 lakh net members during the month,” the government said in a statement.

Among sectors, two categories i.e. expert services and trading commercial establishments constitute 48% of total member addition during the month. The expert services category consists of manpower agencies, private private security agencies and small contractors amongst others. Compared to last month, higher enrolments have been noticed in newspaper establishments, sugar, and rice milling amongst others.

The development comes at a time, when the unemployment rate in November touched a three-month high at 8%, according to the centre for monitoring Indian economy (CMIE).

Employees provident fund organization

EPFO adds 12.92 lakh members in Oct; job creation dips 23.1% MoM