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Employees Provident Fund Organisation (EPFO) has recorded 14.65 lakh as net new enrolments in July, giving a perspective of the country’s formal sector employment, on Monday. In June, the retirement body revised the net new enrolment downwards to 11.15 lakh as against the provisional estimate of 12.83 lakh released last month. The data also showed that in April, net new enrolments was at 8.9 lakh and 6.57 lakh in May. Covid-19 pandemic’s second wave in mid-April this year which forced many states to impose fresh lockdown restrictions.
Estimates may include sporadic contribution
As updation of employees record is a continuous process and gets updated in subsequent months, the data is provisional, the EPFO added.
It further stated that the estimates may include temporary employees whose contributions may be sporadic for the year.
Social security funds of workers in the organised and semi-organised sector in India is managed by the EPFO.