EPFO Figures Show Jobs Are Coming Back

The Employees Provident Fund Organisation (EPFO) added around 53.70 lakh sponsors during the first three quarters of the current economic year, the Union Labour Ministry said on Saturday. The provisional payment data of EPFO showed that it had added 12.54 lakh subscribers in December 2020.

EPFO | 12.54 lakh join in Dec, up 44% over Nov

The Centre said the payroll data reflects a 44% increase in net sponsor additions over November 2020. “Year-on-year example of payment data shows 24% increase for December 2020, giving a replacement to the pre-Covid levels of subscriber growth. The third quarter of the current economic year registered a 22% growth over the second quarter in terms of net payroll addition, the government release said and connected the growing trend to recent e-initiatives of EPFO.

Read Also – Over 10,000 Jobs! – Mega Job Fair

It said 8.04 lakh new posts have been covered below the ambit of EPFO in December. “Roughly 4.5 lakh net features exited and then joined EPFO showing switching of jobs by the subscribers and patrons wishing to retain membership by transferring funds rather than opting for final settlement. An increase in the number of members reenlisting means that artists are responding to their jobs with a decline in active Covid-19 cases,” the Ministry said.

Read Also – Top 10 In-Demand Jobs in Canada for 2021

Maharashtra, Haryana, Gujarat, Tamil Nadu, and Karnataka continued to lead in employment generation by adding 29.12 lakh net contributors, out of 53.70 lakh added during the current business year.

Read Also – Top Fastest-Growing IT Jobs By Salary In 2021