India
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Biggest EPFO Payroll Data June 2022
Most first-time job seekers seem to be joining the organized sector in greater numbers.
New Delhi: According to the data published on August 20, 2022, 18.36 lakh members have been added to EPFO in June, 2022. The total number of members added has increased by 9.21 percent in June, 2022 compared to May 2022 last year. Since April 2022, there has been an increase in the trend of new members joining. About 7.82 lakh members have re-joined EPFO and transferred money to their previous provident fund despite job changes. But they have not withdrawn the final amount from the Provident Fund. The number of newly joined members is higher than last fiscal year.
Comparing the data of regular salaried employees according to age, the maximum number of employees in the age group of 22-25 years is about 4. 72 lakh registered in June alone. Most first-time job seekers seem to be joining the organized sector in greater numbers. A comparison of state payroll numbers shows that Maharashtra, Karnataka, Tamil Nadu, Haryana, Gujarat and Delhi have the highest number of establishments around 12.61 lakh members which is 68.66 percent of the total age group of the country
Employees of organized sector establishments under the Employees Provident Fund and Other Provisions Act, 1952 are part of the EPFO payroll. Being a social security organization, it provides employee provident fund, retirement benefits to its members after retirement.
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