EPFO has received Rs 57,846 crore as contribution from its subscribers in the first quarter of this fiscal
According to CMIE data, 67% of all men of the working age group are employed, whereas only 9% of all women of working age are employed.
The EPFO data has revealed that almost half of the formal sector jobs created in May were in security agencies, small contractors, cleaning services.
While Maharashtra topped in all age brackets, Tamil Nadu, Gujarat, Haryana, Karnataka occupied the next places in different age brackets
EPFO is a social security body that operates the country’s largest and compulsory state pension scheme.
No premium is payable by the employees for availing insurance cover under the EDLI scheme
Aatmanirbhar Bharat Rojgar Yojana: This scheme is being implemented through EPFO to reduce the financial burden of the employers of various sectors
The provident fund contribution scheme involving direct intervention of the state has created 21.42 lakh blue collar jobs so far during the pandemic.
In FY21, the number of provident fund members who stopped subscribing was far more than new members but in April 2021, the situation reversed
As Covid relief measures, the government allowed subscribers to withdraw advances from their PF accounts subject to certain terms and conditions