educratsweb logo


The provisional payroll data published by EPFO on 20th July, 2020 reveals that net new enrolments has started to make headway for most industry classifications in May 2020.  The subscriber base has grown by 3.18 lakh new net members during May 2020, registered a whopping 218% month on month growth. Despite the lockdown, around 1 lakh net new subscribers were added to social security schemes of EPFO in April 2020.  The data published comprises of all the new members who have joined during the month and whose contribution is received.

The subscriber base growth is on account of increased number of new subscribers, lower exits and higher rejoining by exited members. The new subscriber joining has increased roughly by 66 % from 1.67 lakh in April to 2.79 lakh in May 2020.In addition, the exits from EPFO subscriber base declined by nearly 20% from 2.97 lakh in April to 2.36 lakh in May 2020.

The number of members who exited and then rejoined, indicates switching of jobs by subscribers within the establishments covered by EPFO.  This has also increased by approximately 19% for the month of May 2020 over April 2020, with more subscribers choosing to retain membership by transferring funds rather than opting for final settlement.

Category wise analysis of industry indicates that building & construction sector, hotels, transport; electrical, mechanical or general engineering products; education and textiles were adversely impacted by the COVID-19 pandemic in the month of April 2020. Most of these sectors had registered negative enrolment for April 2020. Expert services industry classification that added almost 4 lakh members every month during pre-Covid-19 period, had added only around eighty thousand members during April 2020. Expert services predominantly consist of man power agencies, private security agencies and small contractors.

All these sectors, except education sector which is still affected due to lockdown continuing in schools and colleges, have shown positive growth for month of May 2020. Expert services have recorded a 125% month on month growth by adding around 1.8 lakh net new subscribers in May 2020.

New establishments registered with EPFO also witnessed a growth of around 72% with 8367 new establishments registering in May compared to 4853 establishments in April 2020. Similarly, in terms of establishments filing first ECR, the payroll data registered a growth of around 98% for the month of May as compared with April 2020.

EPFO manages social security funds of workers in the organised/semi organised sector in India and has more than 6 crore active members. The payroll data is provisional as updation of employee records is a continuous process and it gets updated in subsequent months.

https://www.pib.gov.in/PressReleasePage.aspx?PRID=1640424

EPFO payroll data: enrolment rates increase; 3.18 lakh net new subscribers registered in May 2020 against about 1 lakh in April
Contents shared By educratsweb.com

if you have any information regarding Job, Study Material or any other information related to career. you can Post your article on our website. Click here to Register & Share your contents.
For Advertisment or any query email us at educratsweb@gmail.com

RELATED POST
1. Gadkari emphasises upon improving MSME footprint in 115 aspirational districts*
2. Unlocking Online Dispute Resolution to Enhance the Ease of Doing Business
3. NTPC Group achieves over 100 BUs of cumulative generation in the current financial year
4. Dawn of A New Era of Peace, Progress & Prosperity in Jammu, Kashmir and Ladakh : A Series of Road & Highway Projects to Give Impetus to Growth
5. Union Minister of Panchayati Raj & Rural Development Shri Narendra Singh Tomar distributes National Panchayat Awards 2020
6. Union Minister of Textiles and Women & Child Development, Smt Smriti Zubin Irani extends greetings on the occasion of the 6th National Handloom Day
7. Prime Minister Shri Narendra Modi to inaugurate submarine cable connectivity to Andaman & Nicobar Islands (A&NI) on Monday 10th August
8. Union Minister Shri Ram Vilas Paswan urges States and UTs to fully implement One Nation One Ration Card scheme without any delay
9. Inaugural run of Devlali-Danapur Kisan Rail flagged off
10. Vice President asks civil servants to be pro-active change-agents in building a New India
11. Trifed Launches its Own Virtual Office Network to Spearhead Tribal Socio-Economic Development on its 33rd Foundation day
12. Agriculture Mechanization and Technology Division takes various initiatives for farmers’ welfare under Atma Nirbhar Bharat Abhiyaan/Krishi
13. Delhi Airport develops portal for all international arriving passengers across India
14. Proposals for the construction of nearly 10.28 Lakh houses approved under PMAY(Urban)
15. English rendering of text of PM’s speech at Higher Education Conclave
16. TRIFED Reiterates its commitment towards transformation of tribal lives on the occasion of its Thirty-Third Foundation Day
17. PM delivers inaugural addresses at the Higher Education Conclave
18. PM inaugurates Rashtriya Swachhata Kendra - an interactive experience centre on the Swachh Bharat Mission
19. PM to inaugurate Rashtriya Swachhata Kendra tomorrow
20. Webinar on New Technologies for various Products related to COVID 19 for MSMEs with focus of Water Purification Technologies
21. 21 ESIC Hospitals Converted into Dedicated COVID-19 Hospitals Across the Country with the Facility of 2400 Isolation Beds: Santosh Gangwar
22. National Handloom Day on 07th August 2020- Function being organized by Ministry of Textiles on Virtual Platform
23. Jal Jeevan Mission: A reservoir of clean water & employment opportunities
24. 17 crore mandays employment provided and Rs 13,240 crore paid to migrant labourers under Garib Kalyan Rojgar Abhiyaan in 6 weeks
25. Shadesmart & Radiant Cooling technologies promote energy-efficient cooling in buildings
26. NITI Aayog’s Atal Innovation Mission unveils National Winners of the ATL Tinkering Marathon 2019
27. SAI launches Khelo India Mobile App online training program for principals, PE Teachers
28. Curriculum redesigning for NSNIS Diploma and strengthening faculty at NCSC among key decisions taken by SAI Academic Council
29. Pradhan Mantri Garib Kalyan Anna Yojana Phase-I
30. Anupama Pathak, Bhojpuri Actress: Profile, Wiki, Husband, Age and Family
31. Pradhan Mantri Garib Kalyan Anna Yojana Phase-I: April 2020 to June 2020
32. Goa joins MyGov Citizen Engagement Platform; 12 states had already launched their MyGov Platforms
33. India and Japan are looking to have trusted partners from authentic investors: Shri Piyush Goyal
34. Assam gets own 24/7 Doordarshan Channel
35. Payroll Reporting in India – A Formal Employment Perspective
36. IRCTC of Indian Railways and SBI Card launch Co-branded Contactless Credit Card on RuPay Platform
37. Pre-application conference on Private Train Project held today
38. Shri Dharmendra Pradhan Calls for Balancing Life and Livelihood, as India Unlocks
39. Special Liquidity Scheme for NBFCs and HFCs: Implementation Status
40. Shri Arjun Munda inaugurates e-Symposium “Emergent North-East India: Strategic and Developmental Imperatives in Handicrafts” organized by IIM, Shillong
41. Shri Sadananda Gowda launches Schemes and announces guidelines paving way for setting up of Bulk Drugs Parks & Medical Devices Parks in the country
42. Ministry of Earth Sciences launches Mobile App "Mausam” for India Meteorological Department on its Foundation Day Celebrations
43. Ministry of Earth Sciences (MoES) celebrates its Foundation Day
44. Union Minister for HRD Shri Ramesh Pokhriyal ‘Nishank’ launches India Report- Digital Education June 2020
45. MNRE issues fresh advisory against fraudulent websites inviting registration underPM-KUSUMScheme
46. Continuous action is being taken to control locust swarms - Control operations undertaken in 2,83,929 hectares area in Rajasthan, Madhya Pradesh, Punjab, Gujarat, Uttar Pradesh, Maharashtra, Chhattisgarh, Haryana and Bihar from 11th April 2020 till 9th July 2020
47. English rendering of PM address on the occasion of World Youth Skills Day
48. Union Shipping Minister flags off first container ship from Kolkata Port to Agartala via Chattogram port
49. More than 7 lakhs Persons have Recovered from COVID-19
50. CCRGA issues notice to Government of NCT of Delhi
We would love to hear your thoughts, concerns or problems with anything so we can improve our website educratsweb.com ! visit https://forms.gle/jDz4fFqXuvSfQmUC9 and submit your valuable feedback.
Save this page as PDF | Recommend to your Friends

http://educratsweb(dot)com http://educratsweb.com/content.php?id=2981 http://educratsweb.com educratsweb.com educratsweb