EPFO Additions Jump To A 3-Month High
- ByAyushi Ray | August 21, 2021
Employees Provident Fund, EPFO, additions jump to a 3-month high.This signifies recovery in the employment market with the ebbing of the second wave of the Covid-19 pandemic, showed fresh provisional data released on Friday.
June reported nearly 191,000 more new payrolls additions in India’s formal workforce than in May, when the country saw a massive spurt in Covid-19 cases leading to the imposition of localized restrictions by most states. According to the Employees’ Provident Fund Organization (EPFO) data, new payroll additions were at 619,051 in May and 763,312 in April. Of the new payroll additions or EPF subscribers added in June, 450,000 were in the 18-25 age group, followed by 139,478 in the 35-plus age group, showed EPF data. “With respect to payroll data, the impact of the second wave waned during June 2021, leading to tremendous growth in… payroll additions compared to April and May 2021,” the labour ministry-run EPFO said.
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