The Employee Provident Fund Organization (EPFO) has published provisional data, showing that EPFO has added around 18.36 lakh net subscribers during June 2022.
March 2022 has registered an increase of 9.21% lakh net subscriber’s addition as compared to the previous month of May 2022. While, Year-on-year comparison of payroll data reflects that June, 2022 has registered an increase of 5.53 lakh in terms of net member addition comparing the corresponding month during last year in 2021.
Out of the 18.36 lakh net subscribers, around 10.54 lakh new members have come into the social security coverage of EPFO for the first time. Around 7.82 lakh net subscribers exited and then re-joined EPFO by changing their jobs within the establishments covered by EPFO and choose to retain membership through transfer of funds rather than opting for final settlement.
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Knowledge Source :
Foreign Tax Credit Rules Amended by CBDT