Question : The provisional payroll data of EPFO has recently released. Accordingly, which of the following statement is correct ?
Statements —
1.Payroll data released on 20th August, 2021
2.During June, 2021 EPFO adds 12.83 lakh net subscribers
3.Nearly 48 percent of ‘total net additions’ are in the age group of 18-25 years.
Options —
(a)Only 1
(b)Only 2
(c)Only 3
(d)All of the above
Answer- d
Related facts —
- The provisional payroll data of EPFO has recently released.
- Key points —
1.Payroll data released on 20th August, 2021
2.During June, 2021 EPFO adds 12.83 lakh net subscribers
3.Nearly 48 percent of ‘total net additions’ are in the age group of 18-25 years.
4.Month-on-month analysis reveals an increase of 5.09 lakh additions in net subscribers during June, 2021 as compared to the previous month of May, 2021.
5.Of the total 12.83 lakh net subscribers added during the month, around 8.11 lakh new members have come under the social security coverage of Employees’ Provident Funds Scheme for the first time.
6.Majority of subscribers opted to continue their membership with EPFO, using transferring of funds from previous job to the current PF account rather than applying for final withdrawal of their PF accumulations.
7.Regarding age-wise comparison of payroll data, the age-group of 18-25 years has registered highest number of net enrolments with around 6.15 lakh additions, which is 47.89% of total net additions during the month of June, 2021.
- Gender-wise analysis indicates that net female addition during the month stood at 2.56 lakh, which is around 0.79 lakh more than those added during May 2021.
9.State-wise comparison of payroll shows that states of Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka are still at the forefront of payroll addition with addition of approximately 7.78 lakh subscribers during the month.
10.Industry-wise payroll data indicates that ‘expert services’ category (consisting of manpower agencies, private security agencies and small contractors etc.) constitutes 41.84% of total subscribers addition during the month.