EPFO added 15.48 lakh net members during February: Govt
A noticeable aspect of the EPFO data is the dominance of the 18-25 age group which constitutes a significant 56.36 per cent of the total new members.
A noticeable aspect of the EPFO data is the dominance of the 18-25 age group which constitutes a significant 56.36 per cent of the total new members.
According to the EPFO data, around 8.41 lakh new members have enrolled during December 2023. The new members' addition shows an increase of 14.21 per cent when compared with the previous month of November.
In March 2021, the Central Board of Trustees (CBT) decided the 8.5% interest rate on EPF deposits for 2020-21.
Ministry of Labour & Employment on Saturday said the EPFO added 13.95 lakh net members in the month of November, 2023 with around 7.36 lakh new members have enrolled during the same month itself.
EPFO’s latest provisional payroll data released on Monday highlighted that the provident fund organisation added 17.21 lakh net subscribers in the month of September.
A total of 986,850 people subscribed to employee provident fund during the month of August, an 11 per cent decline in comparison to the previous month, data released by the Ministry of Statistics and Programme Implementation on Tuesday showed.
The Central Board has recommended an 8.10% rate of interest to its subscribers for the year 2021-22. The decision was taken in the 230th meeting of the Central Board of Trustees, EPF was held today during the AKAM Iconic Week in Guwahati under the Chairmanship of Bhupendra Yadav, Union Minister for Labour & Employment and Environment.
The payroll data is provisional since the data generation is a continuous exercise, as updation of employee record is a continuous process.
The net subscriber additions have increased by 1.81 lakh as compared to the previous month of August when it was 13.60 lakh.
Around 5.63 lakh net subscribers exited but rejoined EPFO by changing jobs within the establishments covered by EPFO.
