The EPFO provisional payroll data released by the Labour Ministry on 20 Dec 2022 shows an increase of 12.94 lakh members in the month of October, 2022. There is a net increase of 21,026 in membership seen in October 2022 as compared to that of the same month last year.
Employees are covered by social security under the Employees’ Provident Funds and Miscellaneous Provisions Act of 1952.
Realising the benefits of this Act, 2,282 new establishments opted to become members for the first time this year.
Around 7.28 lakh of the total 12.94 lakh members added during the month were covered for the first time by EPFO’s social security coverage. The highest number was registered for the age group of 18–21 years, with 2.19 lakh among the new members. This was followed by the age group of 22–25 years, with 1.97 lakh members. Employees in the age group 18 to 25 constitute approximately 57.25% of the total new members.
Enrolment of females shows a substantive increase this year. The gender-wise analysis of payroll data shows that the enrolment of net female members was 2.63 lakh in October 2022. Out of this, 1.91 lakh females have joined EPFO for the first time, which is around 72.73% of the net female member addition during the month.
The EPFO provides social security benefits to the country’s organised workforce in the form of provident, pension, and insurance funds, as mandated by the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952.
