EPFO adds over a million new subscribers in June for 3rd month in a row

More than a million people have joined the formal workforce for the third consecutive month in June, according to the fresh payroll data released by the Employees’ Provident Fund Organisation (EPFO) on Thursday.

New EPF subscribers increased marginally to 1,054,261 in June from 1,007,441 in May 2022 and 1,009,689 in April, according to data published by the National Statistical Office (NSO). In the June quarter, while 2.27 million new subscribers are men, 0.8 million are women.

Of the new EPF subscriber additions in June, 598,941 are in the 18-25 age group, considered crucial as they are seen as first timers in the