Formal sector jobs created by EPFO jumps by 48% in August 2021: Payroll data

Formal sector jobs created under the Employees Provident Fund Organisation jumped by 48% in August 2021 at 1.48 million compared to 1 million created in August 2020 while it is 37% more than pre-Covid levels, shows the provisional payroll data by EPFO. Net new enrollments under EPFO stood at 1.08 million in August 2019.

The increase in net new subscribers in August is, however, 12.9% higher compared to the revised net addition in July at 1.31 million. The provisional data for July last month had pegged the new subscribers at 1.46 million. Net new enrollments under EPFO stood at 0.83 million in April, 0.59 million in May and 1.01 million in June.

“Of the total 1.48 million net subscribers, around 0.91 million new members have come under the social security ambit of EPFO for the first time,” the labour ministry said on Wednesday. Around 0.56 million net subscribers exited but rejoined EPFO by changing jobs within the establishments covered under the purview of EPF & MP Act, 1952.

Data shows the maximum number of enrollments in the 22-25 years age group with 0.40 million net subscribers followed by addition of 0.32 million new subscribers in the 18-21 year age group. “This indicates that many first-time job seekers are joining organised sector workforce in large numbers and have contributed around 49.18% of total net subscriber additions in August, 2021,” the ministry said.

State-wise comparison of payroll figures highlights that the establishments covered in the states of Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka have added approximately 0.89 million subscribers during the month, which is around 60.45% of total net payroll addition across all age groups.

Of the total addition, the share of female enrolment is approximately 20% of the total net subscriber addition during the month “This is largely due to lower female member exits during the month,” it added.

Industry-wise payroll data indicates that ‘expert services’ category (consisting of manpower agencies, private security agencies and small contractors etc.) constitutes 39.91% of total subscriber addition during the month.

Apart from this, a growing trend in net payroll additions has been noted in industries like trading-commercial establishments, engineering products, building & construction, textiles, garment making, hospitals and financing establishments, it said.

EPFO, which has a subscriber base of 60 million, has been releasing the payroll data from May 2018 onwards covering the period September 2017 onwards.

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