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8.27 lakh new EPF subscribers joined in March

8.27 lakh new EPF subscribers joined in March

New Delhi, May 24 (UNI) Employees' Provident Fund (EPF) data suggest 8,27,042 new subscribers joined in March this year, according to data released by Ministry of Statistics & Programme Implementation on Friday.

Number of new EPF subscribers during April 2018 –March 2019 were 1,37,88,334 compared to 84,57,404 during September 2017 –March 2018, it said.

Under Employees’ State Insurance Scheme, Number of existing employees who paid during the March 2019, were 2,80,36,907.

New National Pension Scheme (NPS) subscribers contributing during April 2018 - March 2019 were 7,32,648 compared to 4,53,446 during September 2017 to March 2018.

New NPS subscribers contributing during March 2019 were 92,498.

The present report gives different perspectives on the levels of employment in the formal sector and does not measure employment at a holistic level.

Since April 2018 this Ministry has been bringing out the employment related statistics in the formal sector covering the period September 2017 onwards, using information on the number of subscribers who have subscribed under three major schemes, namely, the Employees’ Provident Fund (EPF) Scheme, the Employees’ State Insurance (ESI) Scheme and the National Pension Scheme (NPS).

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