Due to the low number of epfo subscribers, the organization claims that the employment in the country has decreased. The biggest thing is that it is not a corona but a result of economic slowdown.
New Delhi: Employee Provident Fund Organization claims that there is a rapid decline in employment in the country, and Corona is not responsible for this at all as EPFO has made these claims based on 2019 data. . According to EPFO, the number of EPF Subscriber declined from 17.8 lakhs to 94.7 lakhs in FY 2019-20, compared to 1.12 crores a year ago. Which means that the employment rate has decreased in the financial year 2019.
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The reality is even more frightening – it is also said that the rate of employment in the country is falling faster than this and only partial truth is visible in the figures. Actually, the figures also include the number of members exiting the job. Most of the people who get out of jobs start working again. On joining the job, his name once again reaches the list of new subscribers. Due to which the ground reality is not visible in the figures.
The SBI report says that the number of first job seekers is less than a year ago. If the number of new recruiters of EPFO is re-employed, then the number of new payrolls in the year 2019-20 was 60.80 lakhs, which is 28.90 lakhs less than a year ago.
Let us tell you that according to the recently released report from EPFO i.e. Employees Provident Fund Organization (EPFO) this month, the number of people joining the EPFO since September 2017 till date (NEW MEMBER TO EPFO) developed. The number of EPFO members has increased by 28 per cent in 2018-19 and 2019-20. Its number of members increased from 61.12 lakh in the financial year 2018-19 to 78.58 lakh in 2019-20. EPFO claims that 62 lakh people have got new jobs till November this financial year. But if we look only at the perspective of 2019, the figures tell a different story.
