EPFO adds 14.65 lakh members in July

New Delhi: Retirement fund body EPFO recorded net new enrolments of 14.65 lakh in July, giving a perspective of formal sector employment in the country.
The provisional payroll data of EPFO (Employees’ Provident Fund Organisation) released on Monday showed a growing trend, with 14.65 lakh net payroll additions during July 2021.
Net new enrolment with the EPFO in June this year was revised downwards to 11.15 lakh from the provisional estimates of 12.83 lakh released last month.
The data showed that net new enrolments stood at 8.9 lakh in April and 6.57 lakh in May this year.
The second wave of the COVID-19 pandemic began in mid-April this year which forced many states to impose fresh lockdown restrictions. The data is provisional as updation of employees’ records is a continuous process and gets updated in subsequent month/s, the EPFO added.
The estimates may include temporary employees whose contributions may not be continuous for the entire year, it further stated.
EPFO manages social security funds of workers in the organised/semi-organised sector in India.

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