EPFO adds over 17 lakh net subscribers in April

Employees' Provident Fund Organisation, EPFO, has added over 17 lakh net subscribers in April this year, as per the provisional payroll data released by EPFO yesterday.  Out of the total 17.08 lakh subscribers added during the month, around 9.23 lakh new members have come under the social security cover of EPF for the first time.

 

Ministry of Labour and Employment in a statement has said that approximately 7.85 lakh net



subscribers exited and re-joined the establishments covered under EPFO by changing their jobs and opted to retain membership under the Scheme, through transfer of funds rather than coming for final withdrawal of their PF accumulations. A year-on-year comparison of payroll data shows an increase of 4.32 lakh net subscribers in April this year as compared to the net subscription in the month of April last year.