EPF subscribers cross pre-Covid level in July, but number may be overstated

There were net additions of 845,232 subscribers to the Employees' Provident Fund (EPF) in  July, which is more than the monthly average of 654,886 during 2019-20.  It should be noted that 2019-20 saw only a few days of lockdown towards the end of March. While interpreting the data, caution should be exercised about the possibility that initial numbers given for payroll data could be overstated.  For instance, it is quite clear now that the impact of lockdown was much more severe in April and May than previously thought.  ALSO READ: Nearly 3.8 m.....

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