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11% drop in Provident Fund (PF) subscribers in August: Pension Fund organization

Pension Fund: 986,850 members added to provident insurance in August

New Delhi:

A total of 986,850 people subscribed to the employee provident fund during the month of August, down 11 percent from the previous month, according to data released by the Ministry of Statistics and Implementation on Tuesday. programs.

As of April 2018, the Ministry publishes statistics relating to employment in the formal sector covering the period from September 2017, using information on the number of subscribers who subscribed to three main schemes – the Caisse de Employees’ Provident Scheme (EPF), the Employees’ Social Insurance Scheme (ESI) and the National Pension Scheme (NPS).

From September 2017 to August 2022, a total of 5,81,56,630 new subscribers joined the EPF program, according to the data.

In the case of ESI, the total number of newly enrolled and dues-paying employees during the month of August was 1,462,145.

Since September 2017, 7,22,92,232 new members have joined the ESI system.

In addition, data showed that 65,543 subscribers were added to the National Pension Scheme in August and 37.85,101 have joined and contributed to the NPS since September 2017.

“This report gives different perspectives on employment levels in the formal sector and does not measure employment at a holistic level,” the ministry said.

The next report is due November 25, 2022.


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