Thursday, September 29, 2022

Female participation in organised sector rises

Female participation in jobs has increased during the last few months. Gender-wise analysis of the latest EPFO data indicated that enrollment of net female members has increased to 4.06 lakh in the current month from 3.43 lakh during last month, registering an increase of 18.37 per cent.
It is also observed that participation of the female workforce in the organised sector has been the highest in the last 12 months.
Overall, employee provident fund organization (EPFO) has added 18.36 lakh net members in the month of June this year.
The provisional payroll data of EPFO released on August 20 highlighted that for the month of June, the net member addition has increased by 9.21 per cent as compared to the previous month of May.
Year-on-year comparison of payroll data reflected that June registered an increase of 5.53 lakh in terms of net member addition comparing the corresponding month during last year in 2021.
New member joining has shown a growing trend since April, 2022.
Approximately 7.82 lakh net members exited but rejoined EPFO by changing their jobs within the establishments covered by EPFO and opted to transfer their funds from previous PF account to the current account instead of applying for final PF withdrawal.
The new enrolment during the month is higher than the monthly average recorded during the last fiscal.
Age-wise comparison of payroll data indicated that the age-group of 22-25 years has registered the highest number of net enrolments with 4.72 lakh additions during June, 2022.
This shows that many first-time job seekers are joining the organised sector workforce in large numbers.
State-wise comparison of payroll figures highlighted that the establishments covered in the states of Maharashtra, Karnataka, Tamil Nadu, Haryana, Gujarat and Delhi continue to remain in lead by adding approximately 12.61 lakh net members during the month, which is 68.66 of total net payroll addition across all age groups.

SourceIANS