EPFO dismisses news of declining number of shareholders, contributor companies in October
In October, the Employees Provident Fund Organization (EPFO) dismissed reports in some sections of the media over the reduction in the number of companies and shareholders contributing to its social security schemes. EPFO is a statutory body under the Ministry of Labor and Employment. “In some sections of the media, the article published on November 18 said that the number of shareholders and companies of EPFO has come down,” the labor ministry said in a statement. In this context, the EPFO clearly makes it clear that the information given in the report is wrong and baseless. ”
The published report claimed that 30,800 companies contributing to the social schemes of EPFO have fallen during October 2020 as compared to September 2020, while the number of shareholders decreased by 1.8 million. The EPFO said that the figures given for the Anshadharkas (contributing members) and establishments did not match the official figures for the month mentioned.
According to the statement, the published data is not based on EPFO figures and is completely false. The EPFO’s data on jobs in the organized sector (payroll) is published on the 20th of every month. The data for jobs created in the organized sector in a month are collected one month after the scheduled date of submission of electronic provident fund returns or ECR. According to the statement, the result of September 2020 (set date October 15, 2020) will be taken on November 15, 2020 and the figure of October 2020 (set date November 15, 2020) will be taken on December 15, 2020. According to EPFO, the final data about jobs was released on October 20, 2020. This shows that there has been a net increase in jobs by August 2020, except April and May 2020. The EPFO data for the jobs created in the organized sector for the month of September will be published on November 20, 2020.
