NEW DELHI: The net new subscriber addition under the EPFO grew 41.6% to 1.7 million in April 2022 compared to 1.2 million in April last year, according to the provisional payroll data released by the ministry of statistics and programme implementation on Friday.
Formal employment creation also saw a significant increase in April across the Employees’ State Insurance Scheme and National Pension Scheme. Out of 1.7 million net subscribers added during the month under EPFO, 0.92 million are new subscribers added in the month for the first time, while nearly 1.16 million are members who had exited the scheme but rejoined and resubscribed during the month.
Similarly, Employees State Insurance Corporation (ESIC) saw net new subscribers growth of 21.1% to 1.2 million, as compared to 1.04 million in the year-ago period and the new additions under the National Pension Scheme (NPS) was 15.6% higher at 64,569 compared to 55,844 in April last year.
From September 2017 – April, 2022; 53.78 million new subscribers joined the EPF scheme, while 66.13 million new subscribers joined the ESI scheme. At the same time, 3.5 million new subscribers joined and contributed to the NPS for central and state governments and corporate schemes from September, 2017 to April, 2022.