New Delhi (21.07.2022): The provisional payroll data of EPFO released on July 20, 2022 suggests that EPFO has added 16.82 lakh net subscribers in the month of May, 2022. A year-on-year comparison of payroll data shows an increase of 7.62 lakh net subscribers in May, 2022 as compared to the net subscription in the month of May, 2021 last year.

Out of the total 16.82 lakh subscribers added during the month, around 9.60 lakh new members have been covered under the ambit of EPF & MP Act, 1952 for the first time. Approximately 7.21 lakh net subscribers exited but rejoined EPFO by changing their jobs within the establishments covered by EPFO and opted to continue their membership under the EPF Scheme, by transferring their funds instead of applying for final PF withdrawal. The new enrolment during the month is higher than the monthly average recorded during the last fiscal.

Age-wise comparison of payroll data indicates that the age group of 22-25 years has registered the highest number of net enrolments with 4.33 lakh additions during May, 2022. This shows that many first-time job seekers are joining organized sector workforce in large numbers.