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Lockdown impact: EPFO records only 1.33 lakh new enrolments in April

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New Delhi: The net new enrolments with retirement fund body EPFO recorded at 1.33 lakh during April 2020, according to its payroll data, providing an employment perspective in the formal sector impacted by COVID-19-induced lockdown.The government had imposed lockdown from March 25 to fight COVID-19 in the country.The provisional payroll data released by the EPFO last month had earlier showed that the net new enrollments dipped to 5.72 lakh in March this year compared to 10.21 lakh in February, 2020.The net new enrolments with the EPFO hovers around 7 lakh every month on an average.However, during 2019-20, the number of net new subscribers rose to 78.58 lakh compared to 61.12 lakh recorded by Employees’ Provident Fund Organisation (EPFO).

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