look news india
The total number of new members of Employees' Provident Fund Organizations fell by four percent to 1.09 crore last year. This information has been given according to a report of the Ministry of Statistics and Personnel. From the employment point of view, according to the EPFO's Payroll Reporting in India January to April-2024 report, a total of 1,14,98,453 members joined EPFO in the year 2022-23. In the year 2023-24, this number has come down directly to 1,09,93,119.
According to the news, due to the Corona epidemic, the total number of new members joining EPFO decreased in the year 2020-21. And it was 85,48,898. In the previous financial year 2019-20, 1,10,40,683 new members joined EPFO. In the financial year 2021-22, the number of new members joining EPFO was 1,08,65,063. The Center and the states had imposed a lockdown in the year 2020 to prevent the spread of the corona virus epidemic in the country. Due to which employment was also affected along with more economic activities.
Pre-Covid level could not be reached till the year 2023-24
Data shows that the total new members added by EPFO in the last five financial years did not reach the pre-Covid level of 2018-19 till 2023-24. A total of 1,39,44,349 new members joined the EPFO in the year 2018-19. In April 2018, the ministry has been releasing employment data in such sectors covering the period after September 2017. In this, information is taken of the members associated with the three major schemes Employees Provident Fund EPF, Employees State Insurance and National Pension Scheme.
The report also shows that the total addition of members of the Employees' State Insurance Corporation has also declined from 1,67,73,02 in 2023-24 to 1,67,60,672 in 2023-24. However, according to the report, the number of new members under NPS has increased from 8,24,735 in 2022-23 to 9,37,020 in 2023-24.
