New Delhi The phased abolition of lockdown since June has had a direct impact on employment figures. The new registration in the Employees Provident Fund Organization (EPFO) increased to 6.55 lakhs in June, compared to 1.72 lakhs in May this year. The provisional payroll data released last month had said net registration of 3.18 lakh people in May. It has now been revised to 1,72,174.
According to the latest data released on Thursday, the new registration in April was only 20,164, while in the provisional figures released in July, the number was one lakh. On an average, there are around seven lakh new registrations in EPFO every month. According to the data, the total number of new subscribers increased to 78.58 lakhs during FY 2019-20 from 61.12 lakhs in the previous financial year.
EPFO has been releasing new shareholder data since April 2018. In this, figures are being taken from September 2017. EPFO states that 1.63 crore new shareholders joined EPFO during September 2017 to June 2020. The total number of shareholders of EPFO is more than 60 million.
The EPFO has stated that payroll data is provisional and the work of updating employee records has been ongoing and is done in a later month.