According to the figures released by EPFO, 3.18 lakh new people have been added to jobs in May this year and this number is better than April.
New Delhi: The Employee Provident Fund Organization or EPFO has given information about the new registration in the month of May. The Employees Provident Fund Organization has stated that due to the lockdown implemented during the corona virus crisis, new registrations in EPFO have declined. However, it has seen improvement in May as compared to April.
In May, 3.18 lakh new registrations
have been reported by EPFO that in the month of May, there were 3.18 lakh new registrations whereas in the previous month i.e. April, the number of new registrations was only 1.33 lakh. In this way, some improvement has been observed in EPFO registration on a month to month basis, but it is much less than the number that comes on a regular basis. This is being said because every month seven lakh new members are added to the EPFO on an average basis. However, this situation precedes the lockdown.
The number was good in February before the lockdown. In February
this year, 10.21 lakh new members joined the EPFO and it happened before the lockdown, but after that the lockdown was implemented from March 25 due to Corona epidemic in the country and new registrations in March The number of people had reduced to 5.72 lakhs. Although the lockdown was imposed in the last week of March, it is still believed that its impact has been seen on the number of newly registered members of EPFO.
Total registration for
FY 2019-20: The total number of new members associated with EPFO during the financial year 2019-20 was 78.58 lakh and this figure can be said to be good. Since the EPFO data shows what is the employment situation in the organized sector, in this context, this number for the financial year 2019-20 was considered as an estimate. Explain that during the financial year 2018-19, the number of new members of EPFO was 61.12 lakh.
Unemployment has increased due to lockdown.
It is clear from the data of EPFO that the employment situation in the organized sectors is not good and the number of people joining the jobs in it is decreasing worryingly. Although it is being argued that this is happening due to the conditions created by the corona virus virus epidemic, but now that the conditions are slowly moving towards normal, the number of new members of EPFO should also increase. .
