As per the payroll data, released by the ministry of labour and employment on Saturday, this translates into a year-on-year increase of 19.6% in net new subscriber addition with 1.63 million new subscriber additions in May 2023 and a 3.2% jump when compared to April 2024 when EPFO registered the new addition of 1.89 million. This is attributed to increased employment opportunities, a growing awareness of employee benefits, and the effectiveness of EPFO’s outreach programs.
