EPFO data shows that about 3.3 million people have been added to the formal workforce in the past six months. It means the EPFO data probably is the best we can do. The NPS is voluntary in the private sector and an increase in numbers may indicate greater awareness of NPS. NPS data in particular indicates an impetus on financial wellbeing in the corporate sector. More companies have initiated corporate NPS in the past few months to facilitate financial wellness among their workforce.

Source: Mint May 15, 2018 07:18 UTC