Vikash Sharma

News Highlights

  • The payroll data indicates that the impact of second wave of Covid-19 pandemic on payroll addition is not as severe as it was for the first wave.

Despite the crisis caused due to the second wave of Covid-19 across the country, the Employees' Provident Fund Organisation (EPFO) has added around 9.20 lakh net subscribers during the month of May, 2021.

As per the provisional payroll data of EPFO published on Tuesday, EPFO has been able to make a cumulative subscribers base of 20.20 lakh in the first two months of the current financial year.

The payroll data indicates that the impact of second wave of Covid-19 pandemic on payroll addition is not as severe as it was for the first wave. This may be attributed to the timely support of the Government of India in the form of ABRY and PMGKY schemes along with various e-initiatives taken by EPFO including online claims submission, auto-claim settlement, online transfer of PF account, strengthened grievance redressal and services on mobile devices etc.

“Of the total 9.20 lakh net subscribers added during the month, around 5.73 lakh new members have come under the ambit of Employees’ Provident Funds Scheme for the first time,” PIB release said.

During the month, around 3.47 lakh net subscribers exited but then rejoined EPFO by changing their jobs within the establishments covered by EPFO and opted to retain membership under the Scheme, through transfer of funds rather than coming for final withdrawal of their PF accumulations.

As regards the age-wise comparison of payroll data, the age-group of 22-25 years has registered highest number of net enrolments with around 2.39 lakh additions during the month of May, 2021. This is followed by age-group of 29-35 with around 1.90 lakh net enrolments. Gender-wise analysis indicates that the share of female’s enrolment is approximately 21.77% of total net subscribers addition during the month. State-wise comparison of payroll shows that establishments registered with the states of Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka are still in the forefront by adding approximately 5.45 lakh subscribers during the month, which is around 59.29% of total net payroll addition across all age groups.

During the current financial year, these 5 states have added around 11.83 lakh subscribers out of 20.20 lakh subscribers added so far. Industry-wise payroll data indicates that ‘expert services’ category (consisting of manpower agencies, private security agencies and small contractors etc.) constitutes 46.77% of total subscribers addition during the month.

The payroll data is provisional since the data generation is a continuous exercise as updation of employee record is a continuous process. The previous data hence gets updated every month. Since May, 2018 EPFO has been releasing payroll data covering the period September 2017 onwards, the PIB report added.