In December 2022, the Employees’ Provident Fund Organisation (EPFO) released its annual report for 2021-22. According to this, 46.34 million members contributed to the EPFO during 2021-22. This was 0.06 million higher than the 46.28 million contributing members in 2020-21. The latter estimate is sourced from the previous year’s EPFO annual report.
The 46.34 million contributing members in 2021-22 is much lower than the 48.92 million contributing members seen in the pre-pandemic year of 2019-20. Evidently, formal sector employment measured through EPFO contributions had not recovered to its pre-pandemic levels till at least 2021-22. It had declined by 5.3
The 46.34 million contributing members in 2021-22 is much lower than the 48.92 million contributing members seen in the pre-pandemic year of 2019-20. Evidently, formal sector employment measured through EPFO contributions had not recovered to its pre-pandemic levels till at least 2021-22. It had declined by 5.3
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