EPFO adds over 10 lakh net subscribers in August 2020

The Ministry said, the provisional payroll data published by EPFO yesterday has revealed that the subscriber base of EPFO increased by around 20 lakh during the first five months of this fiscal.

The Ministry said, during July 2020 around 7.49 lakh net new subscribers were added which is approximately 64 per cent of the net additions made during the corresponding month of previous year.

The



Ministry said, Covid-19 pandemic and subsequent lockdown across the country had adversely affected the enrollments during the first quarter of the current financial year.

However, the provisional payroll figures for the month of July and August 2020 are indicative of the slow dissipation of the negative impact of the COVID-19 and gradual recovery to pre-Covid levels.