New Employees under EPFO increased by 58.7% in FY22

The number of new subscribers under the Employees' Provident Fund Organisation (EPFO) scheme surpassed and stood at 12.2 million as compared to 7.7 million added during FY20-21

May 26, 2022

The number of subscribers under the Employees State Insurance Corporation (ESIC) saw a 29% surge

The National Pension Scheme (NPS) saw an increase of 23.4% in the number of subscribers

EPFO subscribers during FY21 were a 7.7 million

March witnessed new enrolments to a total of 1.53 million subscribers

The payroll data for the 2021-22 period shows a 58.7% increase in the net new employment under the EPFO, a 29.6% surge in the number of subscribers under the Employees State Insurance Corporation (ESIC), and an increase of 23.4% in the number of subscribers under the National Pension Scheme (NPS) over the last fiscal. 

As the number of new subscribers under the EPFO scheme surpassed and stood at 12.2 million as compared to 7.7 million added during FY20-21, net addition under Employees’ State Insurance Corporation (ESIC) stood at 14.9 million as compared to 11.5 million in the previous year. On the other hand, new subscribers under National Pension System

 (NPS) were 0.77 million higher than the 0.62 million recorded in FY20-21. 

The month of March witnessed new enrollments bringing the total to 1.53 million  – an increase of 19.5% as compared to February when it was at 1.28 million.

Under ESIC, subscribers grew by 10.6% to reach 1.40 million as compared to 1.27 million in February while the National Pension Scheme registered a jump of 17.5% or 75,931 subscribers as against 64,611 added in February.