The Employees’ Provident Fund Organisation (EPFO) added 18.81 lakh members representing a 9.33% year-on-year growth in September signifying increased employment opportunities and heightened awareness of employee benefits.
Employees' Provident Fund Organisation
The Employees’ Provident Fund Organisation (EPFO) added 18.81 lakh members representing a 9.33% year-on-year growth in September signifying increased employment opportunities and heightened awareness of employee benefits.
According to provisional payroll data, the EPFO enrolled around 9.47 lakh new members in September, representing an increase of 6.22% from the previous year.
Of the new members, around 2.47 lakh are female exhibiting year-over-year growth of 9.11%.
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Also, the net female member addition during the month stood at around 3.70 lakh reflecting a year over year growth of 12.11%.
A noticeable aspect of the data is the dominance of the 18-25 age group, constituting a significant 59.95% of the total new members added in September.
In addition, the net payroll data for the age group 18-25 for September is 8.36 lakh, which depicts a 9.14% year on year growth.
Approximately, 14.10 lakh members exited and subsequently rejoined EPFO depicting year-over-year growth of 18.19%.
Of all the states, Maharashtra is leading by adding 21.20% of net members during the month.
The states/UTs of Maharashtra, Karnataka, Tamil Nadu, Delhi, Haryana, Gujarat, Uttar Pradesh and Telangana individually added more than 5% of the total net members during the month.
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