Enrollments Under EPFO Cross All Records at 12.2 Million

Net new subscribers under the Employee Provident Fund organization in 2021-22 broke all records, recording 12.2 million new enrollments in 2021-22 as compared to 7.8 million in 2019-20, and 6.11 million in 2018-19, reporting a sharp hike in formal job creation in India.

Provisional data show that the net increase in March was 1.53 million, the highest increase in the month in the last fiscal year, up 19.5% from 1.28 million in February.

EPFO reserve salary data released by the Ministry of Labor on Friday show that 0.118 million establishments contributed for the first time in March, compared to 78,133 establishments in February.

Maharashtra, Karnataka, Tamil Nadu, Gujarat, Haryana, and Delhi are the formal pioneers of job creation, with the six states adding about 1.01 million net subscribers per month. It is about 66.18% of the total net salary across all age groups.

According to gender-wise analysis, the net increase in women's salaries for the month was about 0.34 million which is 22.7% of the total net increase in subscribers in March.

According to the statement, payroll data is provisional because updating employee data is an ongoing process and data generation is an ongoing exercise. EPFO publishes salary data from April 2018, covering the period from September 2017.