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EPFO Records Addition Of 11 22 Lakh Net Subscribers In March

EPFO Records Addition Of 11 22 Lakh Net Subscribers In March
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Don t know your UAN? You can still check your PF account; here s how

Don’t know your UAN? You can still check your PF account; here’s how File photo In the pandemic, some people have had their salaries slashed while many have lost their jobs. For the latter, one bright spot is their earnings in the Provident Fund (PF) account. The Employees’ Provident Fund Organization (EPFO) is India’s largest social security organization. Under the EPFO scheme, an employee contributes 12 percent of basic wages plus dearness allowance from his/her salary every month towards EPF. The employer has to make a similar contribution. As per the PF withdrawal norms, an EPF account subscriber can opt for withdrawal in certain conditions such as job loss, repayment of a home loan, buying a home or home renovation, and others.

EPFO s net new subscribers grow nearly 20% to 12 37 lakh in February despite pandemic

EPFO’s net new subscribers grow nearly 20% to 12.37 lakh in February despite pandemic File photo There is a growing trend of new net subscribers during February 2021 in the retirement body EPFO compared to the same month in 2020. The number has grown by nearly 20 percent to 12.37 lakh subscribers in February. According to the payroll data released on Tuesday which provides a perspective on formal sector employment amid the coronavirus pandemic, a Labour Ministry statement said the data reflects growth of 3.52 percent in net subscribers addition in February 2021 over January 2021. Year-on-year comparison of payroll data indicates an increase of 19.63 percent in net subscribers as compared to the corresponding period in February 2020, the ministry said.

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