Net new enrolments with retirement fund body EPFO grew by 27.79 per cent to 13.36 lakh in January compared to the same month in 2020, according to the payroll data released on Saturday, providing a perspective on formal sector employment amid the coronavirus pandemic.
"The provisional payroll data of EPFO published on 20th March, 2021, highlights a growing trend of subscriber base with the addition of 13.36 lakh net subscribers during the month of January 2021," a labour ministry statement said.
It stated that the data reflects growth of 24 per cent for the month of January 2021 over December 2020. "Year-on-year comparison of payroll data indicates an increase of 27.79 per cent in net subscribers’ as compared to the corresponding period last year (January 2020), indicating return to the pre-Covid levels of subscriber growth for EPFO," the ministry stated.
Despite Covid-19 pandemic, the EPFO added around 62.49 lakh subscribers during the first ten months of 2020-21, the data showed.
During 2019-20, the number of net new subscribers rose to 78.58 lakh as compared to 61.12 lakh in the preceding fiscal, the data showed.
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