EPFO web new enrolments develop practically 20% to 1.2 million in February

EPFO web new enrolments develop practically 20% to 1.2 million in February

Internet new enrolments with retirement fund physique EPFO grew by practically 20 per cent to 12.37 lakh in February in comparison with the identical month in 2020, in accordance with the payroll knowledge launched on Tuesday, offering a perspective on formal sector employment amid the coronavirus pandemic.

The provisional payroll knowledge of EPFO highlights a rising development with the addition of 12.37 lakh web subscribers throughout the month of February, 2021, a Labour Ministry assertion mentioned. The information displays development of three.52 per cent in web subscribers addition in February 2021 over January 2021.

“Yr-on-year comparability of payroll knowledge signifies a rise of 19.63 per cent in web subscribers as in comparison with the corresponding interval in February 2020,” the ministry mentioned.

Regardless of COVID-19 pandemic, the EPFO has added round 69.58 lakh web subscribers throughout the present monetary yr (until February 2021). Throughout 2019-20, the variety of web new subscribers rose to 78.58 lakh as in comparison with 61.12 lakh within the previous fiscal, the info confirmed.

(Solely the headline and movie of this report might have been reworked by the Enterprise Customary workers; the remainder of the content material is auto-generated from a syndicated feed.)

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