EPFO added 14.6 lakh subscribers in Dec 2021

The Employees’ Provident Fund Organisation (EPFO) added 14.6 lakh net subscribers in December 2021, up 16.4 per cent compared to the corresponding period of the previous year.

Comparison shows an increase of around 2.06 lakh in net payroll additions in December 2021, as compared to 12.54 lakh net subscribers added during the corresponding month of the previous year.

On a month-on-month basis, the net subscriber addition increased by 19.98 per cent, as compared to November 2021.

Of the total 14.60 lakh net subscribers added, 9.11 lakh new members have been enrolled under the EPF & MP Act, 1952 for the first time. Approximately, 5.49 lakh net subscribers exited but rejoined EPFO by opting to continue their membership with EPFO by transferring their PF accumulations from previous to present PF account instead of opting for final withdrawal. Further, the number of members exiting EPFO has been on a declining trend since July, 2021, the Ministry of Labour and Employment said in a statement.

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