EPFO adds 14.81 lakh net subscribers in August this year

New Delhi: The provisional payroll data of Employees' Provident Fund Organisation EPFO released today highlights that the social security body has added around 14.81 lakh net subscribers during August this year. The data reflects a growing trend in net payroll for the first five months of the current financial year. For the month of August 2021, the net subscriber addition has increased by 12.61 percent as compared to the previous month of July this year.

Of the total 14.81 lakh net subscribers, around 9.19 lakh new members have come under the social security ambit of EPFO for the first time. Around 5.62 lakh net subscribers excited but rejoined EPFO by changing jobs within the establishments covered under the purview of Employees Provident



Funds and Miscellaneous Provisions Act, 1952. The subscribers opted to continue their membership with EPFO by transferring their funds from their previous job to the current PF account instead of applying for a final withdrawal.

Age-wise comparison of payroll data shows that the age-group of 22 to 25 years has registered the highest number of net enrolments with over 4 lakh additions during August this year  This is followed by age-group of 18-21 with around 3.25 lakh net enrolments. This indicates that many first-time job seekers are joining the organized sector workforce in large numbers and have contributed around 49.18 percent of total net subscriber additions in August 2021.