EPFO added nearly 15 lakh new members in November: Govt
The Employees' Provident Fund Organisation (EPFO) has released provisional payroll data for November 2024, revealing a net addition of 14.63 lakh members.
The Employees' Provident Fund Organisation (EPFO) has released provisional payroll data for November 2024, revealing a net addition of 14.63 lakh members.
The Employees' Provident Fund Organisation (EPFO) has released provisional payroll data for October 2024, revealing a net addition of 13.41 lakh members which signifies increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO’s effective outreach initiatives.
Employees' Provident Fund Organisation (EPFO) on Wednesday gave final opportunity till January 31, 2025 to Employers to upload wage details etc. regarding over 3.1 Lakh pending applications for Pension on Higher Wages.
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.
A meeting of the Employees' Provident Fund Organization has decided to hire two Chartered Accountant firms for the preparation of Annual Financial Statements of the EPFO, and to facilitate the automation of the process of preparation of financial statements.
Introduced on May 6, 2024 pan-India and since then this initiative has been providing speedy service.
A noticeable aspect of the EPFO data is the dominance of the 18-25 age group which constitutes a significant 56.36 per cent of the total new members.
According to the EPFO data, around 8.41 lakh new members have enrolled during December 2023. The new members' addition shows an increase of 14.21 per cent when compared with the previous month of November.
In March 2021, the Central Board of Trustees (CBT) decided the 8.5% interest rate on EPF deposits for 2020-21.
Ministry of Labour & Employment on Saturday said the EPFO added 13.95 lakh net members in the month of November, 2023 with around 7.36 lakh new members have enrolled during the same month itself.
