EPFO adds 12.37 lakh net subscribers in February

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EPFO has added 12.37 lakh net subscribers during the month of February 2021 despite Covid-19 pandemic.

The data reflects growth of 3.52% in net subscribers addition in February 2021 over January 2021. Year-on-year comparison of payroll data indicates an increase of 19.63%.

Of the 12.37 lakh net subscribers added during the month of February 2021, around 7.56 lakh new members have come into the social security ambit of EPFO for the first time.

Around 4.81 lakh net subscribers exited and then rejoined EPFO by switching their jobs within the establishments covered by EPFO and choosing to retain membership through transfer of funds rather than opting for final settlement.

Age-wise analysis indicates that during February 2021, the age-bracket of 22-25 has registered highest number of net enrollments with around 3.29 lakh net subscribers addition. This is followed by age-bracket of 29-35 with around 2.51 lakh net enrollments. This age group can be considered as experienced workers who changed jobs for career growth and opted to be with EPFO.

Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka are in forefront of net payroll addition. These five states contributed 54.81% of the total net subscribers additions across all the age-groups by adding 38.14 lakh net subscribers during the current financial year.

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