By TIOL News Service

NEW DELHI, NOV 22, 2020: THE retirement fund body Employees' Provident Fund Organisation (EPFO) said net new enrolments rose to 14.9 lakh in September, a 49% jump compared to September last year indicating that more formal jobs were being created as post COVID-19 economic recovery pushed forward.

The provisional payroll data released by EPFO revealed their subscribers' base increased by around 30.92 lakh during the first two quarters of the current financial year.

Almost 42% of the new subscribers were workers in the age range of 18-25who can be considered as fresh hands in the job market. While a doubling in the number of more than 35 age-bracket revealed the return of jobs to already experienced workers.

Accordig to the Ministry of Labour and Employment, the states of Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnatakaremained at the forefront of the employment recovery cycle by adding approximately 54% of a total of 30.34 lakh net payroll addition for the second quarter of FY21 across all the age groups

A category-wise analysis of industry showed ‘expert services' have continued their recovery, adding 47% of the net payroll during the second quarter. Some of the other industries such as building and construction (1.62 lakh additions), engineers and engineering contractors (1.57 lakh) and electrical, mechanical and general engineering products (1.51 lakh) have shown that the recovery has started picking up in other sectors as well.

The EPFO said the payroll data is provisional as updating of employee records is a continuous process and gets done on a monthly basis.