On March 20, the Employees’ Provident Fund Organization (EPFO) released the organized sector employment data in the country. According to EPFO, a total of 8,64,159 new members were added in January 2022, which is the lowest in the last three months. If compared to the previous, there are less than one lakh new members in January. In December 2021, about 9,64,031 new members were added to the EPFO, while in November 2021 this number was around 8,88,661. In October 2021, about 8,88,661 new members had joined EPFO. 9,82,467 members were added in September 2021, 10,01,651 in August 2021, 9,92,265 in July 2021 and 8,89,276 in June 2021.
On Sunday, March 20, tweeted on behalf of EPFO, in which it was said that in January 2022, 15.29 lakh members have been added on a net basis, in which about 8.64 lakh new members have been added. On a monthly basis, 2.69 lakh members joined EPFO in January as compared to December last year.
New payroll drop: According to EPFO data, 4,82,277 members in the age group of 18-25 years joined in January, which is 52,500 less than the previous month. In December 2021, 5,35,195 members of this age group were added and in November this figure was 5,03,968. Apart from this, about 3.23 lakh members in the age group of 29-35 years joined EPFO in January.
Most of the members joined in these states: According to EPFO data, Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka together have 9.33 lakh members, which is about 61 percent of the total members. On the other hand, gender-wise analysis shows that in January, about 3.20 women have joined EPFO. Which is about 21 percent of the total members.
Industry payroll data indicates that the ‘Specialist Services’ category has seen an overall member growth of 39.95 percent during January. In addition, the construction and business sectors have seen an increase in net payrolls.