Net New Women EPFO Subscribers Surge to 28.69 Lakh in FY23: Parliament Update

In a recent update to the Rajya Sabha, Minister of State for Labour & Employment Rameshwar Teli revealed a noteworthy surge in net new women subscribers for the Employees’ Provident Fund of India (EPFO). The data reflects the extent of job creation and increased coverage of social security benefits for the organized/semi-organized sector workforce.

Here are the figures

Financial Year | Net New Women Subscribers

• • 2019-20 | 15.94 lakh
  • 2020-21 | 13.98 lakh
  • 2021-22 | 26.19 lakh
  • 2022-23 | 28.69 lakh

Trending Decline in Female Unemployment Rate and Enhanced Labor Force Indicators

Minister Teli also highlighted positive trends in female unemployment rates and labor force indicators. According to the Periodic Labour Force Survey (PLFS), the estimated female unemployment rate (UR) dropped to 2.9% in 2022-23 from 4.2% in 2019-20.

Additional data includes:

• 2020-21 UR: 3.5%
• 2021-22 UR: 3.3%

These figures indicate improved labor force indicators for women in 2022-23 compared to the pre-COVID period.

Government Initiatives Driving Employability

Minister Teli emphasized the government’s commitment to employment generation and improving employability through various measures:

1. Labour Laws and Codes: Provisions in the Code on Social Security, 2020, enhance maternity leave, mandate creche facilities, and ensure safety for women working night shifts.

2. Code on Occupational Safety, Health, and Working Conditions (OSH), 2020: Allows employment of women in specified roles in mines during certain hours with safety protocols.
3. Code on Wages 2019: Prohibits gender-based discrimination in wages or recruitment for similar work.

4. Training Initiatives: Government provides training through Women’s Industrial Training Institutes, National Vocational Training Institutes, and Regional Vocational Training Institutes to enhance female workers’ employability.

Important Questions Related to Exams

Q: What’s the notable update on EPFO’s women subscribers in FY23?

A: EPFO recorded a substantial rise to 28.69 lakh women subscribers in FY23, a significant increase from 15.94 lakh in 2019-20, signaling positive job creation trends.

Q: Any insights on female unemployment rates and labor force indicators?

A: Yes, the estimated female unemployment rate dropped to 2.9% in 2022-23, showcasing improved labor force indicators compared to pre-COVID levels.

Q: What government measures are enhancing employability?

A: Measures include amendments to labor laws, such as the Code on Social Security, providing enhanced maternity leave and safety measures for women. Other codes and training initiatives aim to combat gender-based discrimination and boost employability.