Vandana Agarwal is only 54, but she's already planning to place a deposit on an apartment in a retirement community close to New Delhi that she and her husband will move into when they reach their 70s.
The financial benefits for non-resident Indians become apparent when they earn in foreign currencies and convert them to Indian rupees to invest and save, leading to significant growth in rupee terms.
The provisional payroll data of EPFO has been published on 20th April, 2021 highlights a growing trend with the addition of 12.37 lakh net subscribers during the month of February, 2021. Despite COVID-19 pandemic, EPFO has added around 69.58 lakh net subscribers during the current financial year.
The data reflects growth of 3.52% in net subscribers addition in February, 2021 over January, 2021. Year-on-year comparison of payroll data indicates an increase of 19.63% in net subscribers as compared to the corresponding period in February 2020.The growth may partly be attributed to various e-initiatives taken by EPFO for seamless and uninterrupted service delivery in addition to the policy support for formalization of the economy through ABRY, PMGKY and PMRPY schemes of Government of India, amid COVID -19 pandemic.