There’s good information for job seekers. If you’re also looking forward to the interest rate of EPFO, soon huge amounts of money will arrive in your account. The Employees Provident Fund Organization (EPFO) has yet to transfer interest-paying money (epfo rate 2021-22) to accounts of employees for 2021-22. For this, concerns have been raised. The interest for the current period (epfo rate) was only approved in June of last year.
An 8.1 percent rate of return
The CBT of EPFO, which is headed by the Union Labor Minister Bhupendra Yadav approved 8.1 percent interest rates for 2021-2022 in March 2022. We can say that it’s the lowest interest rate in the last 40 years.
14.93 Million New members have been added since December
EPFO increased its membership to 14.93 million new members in the month of December 2022, purely. This is two percent higher than the same time a year ago. The Ministry of Labor has given the data. According to the information provided by EPFO In December 2022, EPFO reported that the number of EPFO members increased to 14.93 lakhs.
This ministry made available details.
The ministry has stated that, if you compare it to the same month in 2017 there were more members increased by 32,635 members in December 2022 contrasted last month in 2017. It is also reported that the Labor Ministry has also released information on the payrolls for the Employees’ State Insurance Corporation (ESIC). The data shows that as of November 2022 18.03 million new workers were registered with ESIC.
8.02 lakhs came under social security
on an annual basis, it is clear that in the month of December 2022, in comparison with December 2021, the number of employees who have enrolled in the ESI scheme was 14.52 thousand more. Of the 14.93 million new members who joined EPFO in December of 2022 8.02 thousand have been covered by this scheme for the first time.
What is the number of members in what years?
The maximum amount of 2.39 lakh new members range from 18-21 years old. 2.08 million new members have been added to the age group 22-25 years old. Of the new participants, 55.64 percent are in the age range of 18-25 years old.
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