EPF interest on employee contribution up to Rs 5 lakh will now be tax-free
According to the ministry, “On an annual basis, the number of subscribers joining EPFO has increased by 19.63 per cent in February 2021” Add as A total of 78.58 lakh new shareholders were added in the financial year 2019-20, which was 61.12 lakh in the previous financial year. Meanwhile, the January payroll figure of EPFO has been revised to 11.95 lakh. Earlier, in the provisional estimate released in March 2021, it was purportedly that 13.36 lakh people had joined the EPFO.
The EPFO has been releasing the data of employees to be kept on regular pay since April 2018. It has taken the period of September 2017. According to the latest data, 2,72,900 shareholders were separated from EPFO in April 2020, whereas in March the figure was said to be (-) 2,55,559. This means that the number of shareholders who joined the EPFO during this period, far more than that. The figures for May have also been revised. Purely 2,72,328 shareholders separated from EPFO in May 2020 whereas earlier this figure was reported as (-) 2,47,991.
According to the revised figures, there were a total of 1,39,789 employees in June, whereas in the past it was said to be 1,65,607. According to the latest data, in July 2020, a total of 5,15,428 employees were added, whereas in the past the figure was 5,35,720. The figure for August was also revised to 6,42,446, which was 6,67,325 in the past. At the same time, in September 2020, the figure of people who have joined the EPFO has been revised to 12,31,042, which was 12,60,877 in the past. At the same time, the figure for October was revised to 9,00,037, which was 9,34,574 in the past.
EPFO added 13.36 lakh new subscribers in January 2021, more than 62 lakh in 4 months…
The figure for November 2020 was revised to 6,99,020 from the earlier 7,71,546. Whereas the figure for December has been reduced to 9,42,825 from 10,81,398 previously. The statement said that in February 2021, out of the 12.37 lakh net worth subscribers, there were about 7.56 lakh new members, who had come under the social security scheme of the EPFO for the first time. It says that there were 4.81 lakh contributors who went out of the social planning circle and then connected to it. That is, he left a job and joined another place while retaining membership. According to the statement, according to the age group, in February, 2021, the maximum number of shareholders in the age group of 22 to 25 years joined the EPFO. Approximately 3.29 lakh shareholders in this category were involved in social security schemes of EPFO.
(This news has not been edited by the NDTV team. It has been published directly from the Syndicate feed.)