India’s unemployment rate declines, 1.54 million subscribers added to EPFO in September

Formal job creation in India continued to register month-on-month growth, indicating a pick-up in economic activity in the country as Covid cases remained low and business activities resumed at pre-Covid levels.

Employees’ Provident Fund Organisation’s provisional payroll data released on Saturday shows that EPFO ​​added around 1.54 million net subscribers in September 2021 as compared to 1.49 million subscribers added in September 2020, a growth of over 3 per cent. On a month-on-month basis, it is 0.18 million more than in August 2021 when EPFO ​​recorded a net-new addition of 1.36 million subscribers.

0.89 million new subscribers added in September

The Labor Ministry said that out of the total 1.54 million net subscribers in EPFO ​​in September, around 0.89 million new members have been registered for the first time under the provisions of the EPF and MP Act, 1952.

“About 0.64 million net subscribers exited but rejoined EPFO ​​by changing jobs within establishments covered by the EPF and MP Act, 1952, thereby opting to continue their membership with EPFO by transferring their funds instead of opting for final withdrawal,” it added.

Age-wise net enrollment of EPFO

Age-wise comparison of payroll data shows that the age group of 22-25 years recorded the highest net enrollment with an addition of 0.41 million during September 2021, followed by the age group of 18-21 years with about 0.31 million net enrolments.

“This shows that many first-time job seekers are entering the organized sector workforce in large numbers and have contributed to around 47.39 per cent of the total net subscriber additions in September 2021,” it added.

Top states with highest subscribers of EPFO

Establishments in Maharashtra, Tamil Nadu, Gujarat, Haryana and Karnataka added around 0.94 million subscribers during the month, accounting for about 61 per cent of the total net payroll addition across all age groups.

Gender-wise enrollment of EPFO

Gender-wise analysis shows that the net share of female enrollments during the month is around 0.32 million, which is 0.06 million more than in August 2021, when 0.26 million female subscribers were added to the payroll. “This is largely due to fewer female member exits during the month,” it added.

Industry-wise subscribers of EPFO

Industry-wise payroll data indicates that the ‘expert services’ category (consisting of manpower agencies, private security agencies and small contractors etc.) accounted for 41.22 per cent of the total subscriber growth during the month, while a growing trend in net payroll additions has been noted in industries like trading-commercial establishments, textiles, garment making, engineering products, building & construction, hospitals and financing establishments.

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