New Delhi: The Employees’ Provident Fund Organisation (EPFO) has added 18.36 lakh net subscribers in June this year. This is 9.21% more than when compared to May this year. June this year has registered an increase of 5.53 lakh in terms of net member addition comparing the corresponding month during last year.
More than 10.54 lakh new subscribers have come under the social security cover of EPF and MP Act, 1952 for the first time. New member joining has shown a growing trend since April this year. About 7.82 lakh net members exited but rejoined EPFO by changing their jobs within the establishments covered by EPFO and opted to transfer their funds from previous PF account to the current account instead of applying for final PF withdrawal.
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EPFO is the country’s principal organization responsible for providing social security benefits to the organized/semi-organized sector workforce covered under the EPF & MP Act, 1952.
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