Net new EPFO subscriber addition fell 7.1% to 1.69 million in August from 1.82 million in July, in response to provisional payroll information from the National Statistical Office (NSO) below the statistics and programme implementation ministry, launched on Tuesday. It was 1.83 million in June, 1.68 million in May and 1.53 million in April.
The ESIC registered an 8% decline in internet subscriber addition at 1.46 million in contrast with 1.58 million in July. The insurance programme had reported a internet 1.56 million new enrolments in June, 1.51 million in May and 1.28 million in April.
The NPS witnessed a marginal dip of 0.71% at 65,543 new subscribers as towards 66,014 in July, although the web addition was higher than the earlier three months – 58,425 in June, 60,926 in May and 64,569 in April.
The year-on-year comparability exhibits a rise in formal jobs created in contrast with August 2021, when the nation was simply recovering from the second wave of the pandemic.
Compared with final yr, formal jobs created in August this yr have been greater by 14.4% below the EPFO, 10.5% below the ESIC and 16.3% below the NPS.
Out of the entire 1.69 million internet subscribers added throughout the month, round 0.98 million new members have been enrolled below the social safety cowl of the EPF & MP Act, 1952 for the primary time, the ministry stated.
About 0.71 million internet subscribers exited however re-joined the EPFO by transferring their accumulations from earlier PF account to the present PF account, as an alternative of claiming for remaining withdrawal.
