EPF added 4.79L cr subscribers in 4 yrs

Insight Online News

New Delhi, Dec 24 : The formal employment outlook of the country covering September 2017 to October 2021 shows that 4.79 lakh crore new subscribers in India joined the Employees Provident Fund (EPF) scheme in this period.

According to data released by the Ministry of Statistics and Programme Implementation, the EPF scheme added 7.56 lakh new subscribers in October 2021. The previous month, the EPF scheme added 9.49 lakh subscribers.

During September 2017 to October 2021, the number of new subscribers who joined the Employees State Insurance Scheme (ESIS) was 5.82 lakh crore. In October 2021, the scheme added 12.19 lakh subscribers and 13.57 lakh the previous month.

In the same period, 30.23 lakh subscribers joined and contributed in the National Pension Scheme (NPS) Central Government, state governments and corporate schemes. The number of new subscribers who joined and contributed in NPS in October 2021 was 68,870 as compared to 72,923 in September.

Since April 2018, the Ministry of Statistics and Programme Implementation has been bringing out employment related statistics in the formal sector covering September 2017 onwards, using information on the number of subscribers who have subscribed under three major schemes: EPF, ESIS and NPS.

The data are based on the administrative records available with select government agencies and assesses the progress in certain dimensions.

UNIINDIA

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