epfo
Employees’ Provident Fund Organization (EPFO) has added 18.81 lakh members in September. This is 9.33 percent more than the same month last year. This shows that jobs have increased in the organized sector. According to EPFO’s payroll data, the Employees’ Provident Fund Organization added 9.47 lakh new members in September, 2024. This is 6.22 percent more than September 2023. It said the increase in new membership can be attributed to increased employment opportunities, increased awareness about employee benefits and promotional programs of EPFO.
9.33% more members joined
According to the statement, EPFO has released provisional ‘payroll’ data for September, 2024. Under this, a net of 18.81 lakh members joined its social security scheme. This is 9.33 percent more than in September, 2023. According to statistics, among the net added members, people in the age group of 18 to 25 are more. Their share in the total new members added in September 2024 is 59.95 percent. It said that for September, 2024, 8.36 lakh members in the age group of 18 to 25 joined. This is 9.14 percent more than the figures for September 2023. This is in line with the earlier trend. This suggests that the majority of individuals joining the organized workforce are youth. Mainly these are the people who have got job for the first time. According to the data, around 14.10 lakh members exited and later re-joined EPFO. This figure is 18.19 percent more on annual basis.
2.47 lakh new women members joined
On male-female basis, approximately 2.47 lakh women were added as new members during the month under review. This is 9.11 percent more on annual basis. The number of net female members increased by about 12 percent to about 3.70 lakh. State-wise analysis of the payroll data shows that the net member growth during the month in the top five states/UTs is about 59.86 per cent or 11.26 lakh. Maharashtra remained on top among all the states. It added 21.20 percent net members in the month under review. The states/UTs of Maharashtra, Karnataka, Tamil Nadu, Delhi, Haryana, Gujarat, Uttar Pradesh and Telangana individually added more than five per cent of the net members during the month. It says that the ‘payroll’ figure is temporary. The reason for this is that data generation is a continuous process.
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