EPFO Net Payroll Enrollment Revised to 3.44 mn As Against the Estimated 3.93 mn for September-March 2017–18
According to a government release, the levels of employment are from various sources, there are elements of overlap and the estimates are not additive.
New Delhi, June 26: Retirement fund body Employees Provident Fund Organisation's (EPFO) has revised its net payroll enrolment numbers for September-March 2017-18. According to reports, the total enrolment addition for the seven months to 3.44 million as against 3.93 million what was estimated earlier. According to a government release, the levels of employment are from various sources, there are elements of overlap and the estimates are not additive.
According to data released by the Ministry of Statistics and Programme Implementation on Monday, for April 2018, the net payroll enrolment was the highest since September at 6.85 lakh. The Ministry said that the information is based on the number of subscribers and as the schemes provide for earlier payments, the tables reflect a dynamic status. According to a government data, the net payroll enrolment number for March has been revised to 4.80 lakh from 6.13 lakh earlier.
For February, the net payroll enrolment has been revised lower to 4.99 lakh from 5.89 lakh earlier. Meanwhile, for January, the enrolment number has been lowered to 5.42 lakh from 6.14 lakh earlier, while for December, it’s been reduced to 4.64 lakh from 5.35 lakh.
The government, in its latest release, has reduced the net payroll enrolment number of EPFO for each of the seven months since September. The ministry had released the data for September-March, the second in the EPFO enrollment data series, on May 25 while the first set of payroll data was released by the EPFO in April.
The data by the Ministry of Statistics revealed that during April, the maximum new payroll enrolment of 1,87,221 was recorded in the age bracket of 18 to 21 years followed by 1,80,892 in 22 to 25 years. The release further informed that for September-April, the highest enrollment was seen at 14.30 lakh for the age group 18-21 years. Detailing further, the release informed that the estimated total number of new National Pension Scheme (NPS) subscribers during the period September 2017- April 2018 is 5,12,040.
The EPFO trustees will on Tuesday consider widening the range of equity-linked schemes or exchange-traded funds (ETFs) to maximise returns on its investments in stock markets. Apart from this, the retirement body will also consider a proposal to give an extension of six more months to its five fund managers SBI, ICICI Securities Primary Dealership, Reliance Capital, HSBC AMC and UTI AMC for managing its corpus during its meeting today.
(The above story first appeared on LatestLY on Jun 26, 2018 10:49 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).