On a year-on-year basis, EPFO registered a growth of 2.74% in net payroll additions compared to December 2023.
Photo: EPFO (IANS)
The Employees’ Provident Fund Organisation (EPFO) has registered a 9.69% increase in the net payroll for December 2024 with an addition of 16.05 lakh members, the organisation said in its provisional data.
On a year-on-year basis, EPFO registered a growth of 2.74% in net payroll additions compared to December 2023. The growth signifies increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO’s effective outreach initiatives, the Ministry of Labour & Employment said.
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The data further revealed that EPFO enrolled around 8.47 lakh new subscribers in December 2024, showing a year-on-year growth of 0.73% from the previous year in December 2023.
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A noticeable aspect of the data is the dominance of the 18-25 age group, with 4.85 lakh new subscribers added in this category, constituting a significant 57.29% of the total new subscribers in December 2024.
New subscribers in the 18-25 age group added in the month show an increase of 0.91% compared with the previous month of November 2024 and a growth of 0.92% from the previous year in December.
The net payroll addition for the 18-25 age group in December 2024 is approximately 6.85 lakh, reflecting an increase of 16.91% compared to November.
The payroll data highlighted that approximately 15.12 lakh members exited and subsequently rejoined EPFO, representing a 5.10% increase compared to November and year-over-year growth of 25.76% compared to December.
Out of the total new subscribers added during the month, around 2.22 lakhs are new female subscribers exhibiting a significant year-over-year growth of 6.34%.
Maharashtra led the states by adding 21.71% of net payroll during December. Maharashtra, Karnataka, Gujarat, Haryana, Delhi, Tamil Nadu, Uttar Pradesh, and Telangana individually added more than 5% of the total net payroll during the month.
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