educratsweb@mail.com

+91

📂 Register 🔒 Login
PAYROLL DATA : EPFO ADDS 10.06 LAKH NET SUBSCRIBERS IN AUGUST 2020  #EDUCRATSWEB

The provisional payroll data published by EPFO on 20th October 2020 reveals that the subscriber base of EPFO increased by around 20 lakh during the first five months of FY21. Covid-19 pandemic and subsequent lockdown across the country had adversely affected the enrolments during the first quarter of the current financial year. However, the provisional payroll figures for the month of July and August 2020 are indicative of the slow dissipation of the negative impact of the COVID-19 pandemic outbreak and gradual recovery to pre-Covid levels.

During July 2020 around 7.49 lakh net new subscribers were added which is approximately 64% of the net additions made during the corresponding month of previous year ie. July 2019. The enrolment recovery pattern has further improved in August 2020 where net new additions are roughly 93% of the net growth in membership recorded in August 2019. This is suggestive of return to normalcy regarding subscriber base growth for EPFO.

In terms of month-on-month growth, August 2020 recorded a remarkable 34% jump over July 2020 in terms of net new subscribers added. The higher subscriber base growth seen in the month of August 2020 is on account of increased number of new subscribers and lower exits by members. The new subscriber joining has increased from 6.48 lakh in July 2020 to 6.70 lakh in August 2020. In addition, the exits from EPFO subscriber base declined by more than 50%, from 5.08 lakh in July to 2.46 lakh in August 2020.

Around 5.81 lakh members had exited and then rejoined EPFO during August 2020.These subscribers have switched jobs within the establishments covered by EPFO and choose to retain their membership by transferring funds rather than opting for final settlement. The data published comprises of all the new members who have joined during the month and whose contribution has been received.

Age-wise analysis indicates that during August 2020, the maximum numbers of new additions were from the 22-25 years age bracket followed by 18-21 age bracket. The 18-25 age-group members can be considered as first time employees in the work force and have shown strong revival by contributing almost 51% of the new subscribers.

Across the States, comparison of payroll figures reveals that the States of Maharashtra, Tamil Nadu, Gujarat, Karnataka and Haryana remain at the forefront of the enrollment recovery cycle adding approximately 57% of the total 21.40 lakh net new subscribers added during the months of June, July and August 2020 combined.

Category-wise analysis of industry indicates ‘expert services’ category (which primarily includes manpower agencies, private security agencies and small contractors) has been the most resilient as far as recovery is concerned, contributing a combined net payroll figure of 11.20 lakh for the month of June, July and August 2020, which is approximately 63% of the total net payroll for these three months for the top ten industry categories.

EPFO is country’s principal organization responsible for offering social security benefits to the organized/ semi-organized sector workforce and thereby touching millions of lives. It offers its members a myriad number of services, including provident fund, insurance and pension not only to its members but also to their families. The payroll data is provisional since updating of employee records is a continuous process and accordingly gets updated on a month on month basis.

Sources https://pib.gov.in/PressReleasePage.aspx?PRID=1666143

Payroll data : EPFO adds 10.06 lakh net subscribers in August 2020
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. Union Sports Minister Shri Kiren Rijiju to launch unique Fit India Freedom Run on August 14
The Sports Ministry is set to organise the largest country-wide run, the Fit India Freedom Run from August 15 to October 2, which boasts of a unique concept. In keeping with the current pandemic situation and social distancing norms, the government has decided to encourage participants of the event to run at their own pace - anywhere and at any time of their convenience.
2. EPFO payroll data: 12.76 lakh net subscribers added during April, 2021
The provisional payroll data of EPFO published on 20th June, 2021 highlights that EPFO has added around 12.76 lakh net subscribers during April, 2021. Despite the second wave of COVID-19 pandemic, April 2021 registered an increase of 13.73% net subscribers addition as compared to the previous month during which around 11.22 lakh net subscribers were added to the payroll. Data reflects that the number of exits in the month of April, 2021 have declined by 87,821 and rejoining has increased b
3. National Handloom Day on 07th August 2020- Function being organized by Ministry of Textiles on Virtual Platform
Handloom sector is a symbol of the country’s glorious cultural heritage and an important source of livelihood in the country. The sector is key to women empowerment as over 70% of handloom weavers and allied workers are women. On the occasion of the 6thNation
4. EPFO adds 11.22 lakh net subscribers in the month of March, 2021
The provisional payroll data of EPFO has been published on 20th May, 2021 highlights that EPFO has added around 11.22 lakh net subscribers in the month of March, 2021. Despite Covid-19 pandemic, cumulative net payroll addition for FY 2021 is almost at par with last year, with 77.08 lakh net additions to subscribers base. Quarterly analysis of payroll for the FY 2020-21 indicates that net subscribers addition improved consistently from 2nd quarter after taking hit in the 1st quarter due to crisi
5. Power Minister informs about the proposal to impose Basic Custom Duty (BCD) beginning August, 2020 on solar modules, solar cells and solar inverters.
Power Minister informs about the proposal to impose Basic Custom Duty (BCD) beginning August, 2020 on solar modules, solar cells and solar inverters. Shri R.K. Singh, Union Minister of Power, New and Renewable Energy and Skill Development and Entrepreneurship (IC) interacted today through video conferencing with developers of generation and transmission projects in Power and Renewable Energy sector. The Union Power Minister emphasized the importance of the movement for ‘Aatmanirbhar Bha
6. English rendering of Prime Minister Shri Narendra Modi’s address to the Nation from the ramparts of the Red Fort on the 74th Independence Day- August 15, 2020
My dear countrymen, Congratulations and many best wishes to all the countrymen on this auspicious occasion of independence. Today, we are able to live in an independent India because of the sacrifices of millions of sons and daughters of Mother India. This is an occasion to pay tribute to the freedom fighters, martyrs and brave souls and their spirit and dedication to free Mother India. The valiant soldiers of our armed forces, our paramilitary forces, our police personnel a
7. Rs. 86,449 crore of gross GST revenue collected in the month of August
The gross GST revenue collected in the month of August, 2020 is Rs. 86,449 crore of which CGST is Rs. 15,906 crore, SGST is Rs. 21,064 crore, IGST is Rs. 42,264 crore (including Rs. 19,179 crore collected on import of goods) and Cess is Rs.7,215 crore (including Rs. 673 crore collected on import of goods). The government has settled Rs. 18,216 crore to CGST and Rs. 14,650 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments afte
8. EPFO updates KYC for 52.62 lakh subscribers since 1st April, 2020
EPFO updates KYC for 52.62 lakh subscribers since 1st April, 2020 To extend the availability and reach of online services, which have become crucial in the wake of the COVID-19 pandemic, EPFO updated Know your Customer (KYC) data for its 52.62 lakh subscribers in the month of April and May 2020. This includes Aadhaar seeding for 39.97 lakh subscribers, mobile seeding (UAN activation) for 9.87 lakh subscribers and bank account seeding for 11.11 lakh subscribers. KYC is a one-time process which
9. Issue of GST late fee for the past period (August 2017 to January 2020) to be discussed in the next GST Council meeting
Issue of GST late fee for the past period (August 2017 to January 2020) to be discussed in the next GST Council meeting In the recent past, tweets have been noticed by the Government on the issue of waiver of late fee applicable on non-filing of GSTR 3B returns. The demands are largely for the waiver of late fee for the returns which were required to be filed from the beginning of Goods & Services Tax (GST) i.e. August, 2017. It may be noted that for helping the small businesses
10. States/UTs can complete distribution of remaining free food grains and whole gram allocated under Atma Nirbhar Bharat scheme by 31st August 2020
The Union Minister for Consumer Affairs, Food & Public Distribution Shri Ram Vilas Paswan today briefed the media through video conferencing about the progress of Prime Minister Garib Kalyan Ann Yojana and Atma Nirbhar Bharat Abhiyan. Shri Paswan welcomed the decision of Prime Minister Shri Narendra Modi for the extension of PMGKAY for five more months till November 2020.He said, Prime Minister Shri Narendra Modi started the two biggest food grains distribution scheme-PMGKAY and ANBA for poor and nee
11. First ever online patriotic film festival kicks off on 7th August
National Film Development Corporation is organizing a first of its kind, online patriotic film festival. The festival, a part of Independence Day Celebrations 2020 by Ministry of Information and Broadcasting, begins on 7th August, 2020 and runs till 21st August. The festival will showcase Indian history that marks the bravery of our freedom fighters and aims to create a festive and patriotic mood among Indians across the globe. The festival will showcase high q
12. EPFO payroll data: enrolment rates increase; 3.18 lakh net new subscribers registered in May 2020 against about 1 lakh in April
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
13. Intense rainfall activity over plains of Northwest India & Central parts of India during 12th-15thAugust, 2020
According to the National Weather Forecasting Centre/Regional Meteorological Centre, New Delhi of the India Meteorological Department (IMD): The monsoon trough is active and near to its normal position. It is likely to be active and meandre around its normal position during next 4-5 days. Convergence of strong southerly/southwesterly winds from Arabian sea over northwest and adjoining central India very likely during next 3-4 days. An east-west shear zone runs alon
14. NITI Aayog to Launch Nationally Determined Contributions (NDC)–Transport Initiative for Asia(TIA) India Component tomorrow, 27th August
NITI Aayog will virtually launch the India Component of the Nationally Determined Contributions (NDC)–Transport Initiative for Asia (TIA) tomorrow, 27 August.  GIZ Director, Division South Asia, Corinna Küsel, and Deputy Ambassador German Embassy, Stephan Grabherr, will open the event at 6 pm, followed by opening remarks by Dr Karsten Sach, Director General IK, International and European Policy, Climate Policy, Federal Ministry of the Environment, Nature Cons
15. Ministry of HRD extends the date of submission for Essay on Atma Nirbhar Bharat-Swatantra Bharat till 23rd August, 2020.
In the run up to the Independence Day celebrations in the country, the Ministry of Human Resource Development in partnership with MyGov is organizing an online essay writing competition for specific age of school students (IX to X or Secondary Stage and XI to XII or Higher Secondary) across the country. Ministry of HRD has extended the date of submission for Essay on Atma Nirbhar Bharat-Swatantra Bharat till 23rd August, 2020. The NCERT will be the Nodal Agency for this event. The sub
16. EPFO payroll data: 11.55 lakh net subscribers added in October 2020
The provisional payroll data of EPFO has been released on 20th December, 2020. It reveals that EPFO has added 11.55 lakh net subscribers in the month of October, 2020. Despite the COVID-19 pandemic, EPFO has added around 39.33 lakh subscribers during the current financial year (from April to October, 2020). The data published comprises of members who have joined during the month and whose contribution has been received by EPFO for the wage month. Year-on-year comparison shows that October, 2020
17. भारतीय रेलवे द्वारा 22.03.2020 से 10.06.2020 तक कुल 3,897 पार्सल ट्रेनें के जरिये कुल 1,39,196 टन माल की ढुलाई की है
भारतीय रेलवे द्वारा 22.03.2020 से 10.06.2020 तक कुल 3,897 पार्सल ट्रेनें के जरिये कुल 1,39,196 टन माल की ढुलाई की है भारतीय रेलवे 1 हाई राइज ओवर हेड इक्विपमेंट (ओएचई) को चालू करके एक नया विश्व मानदंड बनाया है। इसमें 7
18. Payroll Reporting in India – A Formal Employment Perspective
The National Statistical Office(NSO), Ministry of Statistics and Programme Implementation has released the press note on Employment Outlook of the country covering the period September, 2017 to March, 2020 based on the administrative records available with selected government agencies to assess the progress in certain dimensions. A detailed note is annexed.
19. Inviting Ideas for PM Narendra Modi's Mann Ki Baat on 30th August, 2020
Inviting Ideas for PM Narendra Modi's Mann Ki Baat on 30th August, 2020   Last Date Aug 29,2020 23:45 PM IST (GMT +5.30 Hrs) Login to Participate PM Narendra Modi looks forward to sharing his thoughts on themes and issues that matter to you. The Prime Minister invites you to share yo
20. Prime Minister Narendra Modi will announce the results of Swachh Survekshan 2020, at 11 AM on Thursday i.e the 20 August.
Prime Minister Narendra Modi will announce the results of Swachh Survekshan 2020, at 11 AM on Thursday i.e the 20 August. This is the fifth edition of the annual cleanliness survey of the country. A total of 129 awards will be handed over to the top performing cities and states in the programme, titled “Swachh Mahotsav”. The Prime Minister will also be interacting with select beneficiaries, swachhagrahis and SafaiKarmi
21. Prime Minister Shri Narendra Modi to inaugurate submarine cable connectivity to Andaman & Nicobar Islands (A&NI) on Monday 10th August
Prime Minister Shri Narendra Modi will inaugurate and dedicate to the Nation through video conferencing the submarine Optical Fibre Cable (OFC) connecting Chennai and Port Blair on 10th August, 2020. The submarine cable will also connect Port Blair to Swaraj Dweep (Havelock), Little Andaman, Car Nicobar, Kamorta, Great Nicobar, Long Island, and Rangat. This connectivity will enable delivery of faster and more reliable mobile and landline teleco
22. EPFO adds 12.37 lakh net subscribers in the month of February, 2021
The provisional payroll data of EPFO has been published on 20th April, 2021 highlights a growing trend with the addition of 12.37 lakh net subscribers during the month of February, 2021. Despite COVID-19 pandemic, EPFO has added around 69.58 lakh net subscribers during the current financial year. The data reflects growth of 3.52% in net subscribers addition in February, 2021 over January, 2021. Year-on-year comparison of payroll data indicates an increase of 19.63% in net subscribers as compare
23. EPFO adds 1.39 crore subscribers in last two financial years
EPFO adds 1.39 crore subscribers in last two financial years Recently published provisional payroll data by EPFO highlights the ever growing trend of increasing subscriber base for EPFO, since the collation of payroll data from September 2017. The payroll data, presents the consolidated annual figures for 2018-19 and 2019-20. Net addition to subscriber base rose from 61.12 lakh added in 2018-19 to 78.58 lakh in 2019-20, registering a 28% growth. The data published comprises of all the new mem
24. EPFO Makes Signficant Progress in Updating KYC of its Subscribers During July- 2020 Despite Covid Pendemic
During the month of July 2020 EPFO has been successful in updating 2.39 Lakh Aadhaar's, 4.28 Lakh Mobile numbers & 5.26 Lakh Bank Account's in the UAN of its subscribers.   As the country faces the unprecedented challenge of the COVID 19 pandemic, the concept of social distancing has assumed immense importance. EPFO, as the principal social Security Organization in the country, has been striving hard, to provide unhindered services to its subscribers through digital m
25. Isolated extremely heavy falls also very likely over Odisha on 25 & 26 and over Chhattisgarh on 27 August, 2020
According to the National Weather Forecasting Centre/Regional Meteorological Centre, New Delhi of the India Meteorological Department (IMD): Significant Weather Features Dated on 25-08-2020 (MID-DAY) ♦️ The Low Pressure Area over North Bay of Bengal &neighbourhood now lies as a Well Marked Low Pressure Area over the same region. It is very likely to move west-northwestwards during next 4-5 days. Under its influence: Wid
We would love to hear your thoughts, concerns or problems with anything so we can improve our website educratsweb.com ! email us at educratsweb@gmail.com and submit your valuable feedback.
Save this page as PDF | Recommend to your Friends

Subscribe to our Telegram channel https://t.me/educratswebchannel | PAYROLL DATA : EPFO ADDS 10.06 LAKH NET SUBSCRIBERS IN AUGUST 2020  #EDUCRATSWEB educratsweb.com News 2020-10-21

https://bhojpuri-actor-actress.blogspot.com/ | https://sarkariniyukti.blogspot.com/ | https://educratsweb.blogspot.com/ | https://bhaktisangam.blogspot.com/ | https://bharatpagesblog.blogspot.com/ | https://bcspatna.blogspot.com/ | https://bizinfozones.blogspot.com/ | https://cityzoneeducation.blogspot.com/ | https://consptech.blogspot.com/ | https://saralmaterials.blogspot.com/ | https://ekbihar.blogspot.com/ | https://indiahealthplus.blogspot.com/ | https://gktalk.blogspot.com/ | https://gunjanphoto.blogspot.com/ | https://mahuli-patna.blogspot.com/ | https://modicareblog.blogspot.com/ | https://biharnalanda.blogspot.com/ | https://parsapatna.blogspot.com/ | https://prakashparv.blogspot.com/ | https://chitraguptajimaharaj.blogspot.com/ | https://shrishirdisaibabasansthan.blogspot.com/ | https://speakdoor.blogspot.com/ | https://supremedealin.blogspot.com/ | https://supremedealblog.blogspot.com/