new Delhi. Employee Provident Fund Organization (EPFO) had a net increase of 3.18 lakh registered shareholders by the end of May, more than three times that of April. The round was one of public restrictions applicable to the prevention of Korana virus infection, which is now being relaxed.
Monthly data on employees employed on EPFO salary gives information about the direction of employment in organized sector. According to provisional figures released last month, there were a net 1.33 lakh new registrations in April. This figure for April has been revised to 1,00,825. This figure was 5.72 lakh in March and 10.21 lakh in February. The average monthly net growth of EPFO shareholders is around 7 lakhs.
According to the latest EPFO data released on Monday, the number of net new shareholders increased to 78.58 lakh during FY 2019-20, from 61.12 lakh in the previous financial year. EPFO has been releasing new shareholder data since April 2018. It has taken data from September 2017. The data also shows that during September 2017 to May 2020, the number of net new subscribers was 1.59 crore.
The EPFO oversees the Social Security Fund of people working in organized and semi-organized sectors in India. It has more than 6 crore active members.
This post was published on July 21, 2020 12:47 pm
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