In October, the number of new monthly subscribers under the Employees' Provident Fund (EPF) decreased by 20.8 per cent month-on-month (M-o-M) to 750,000. This is a seven-month low from 947,000 in September, according to the latest monthly payroll data released by the Employees' Provident Fund Organisation (EPFO) on Wednesday.
The EPFO data is considered crucial as it reflects the state of the formal labour market and only the formal workforce enjoys social security benefits and is protected by labour laws.
This story is from the December 26, 2024 edition of Business Standard.
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This story is from the December 26, 2024 edition of Business Standard.
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