The Employees’ Provident Fund Organisation (EPFO) reported a significant rise in net member additions for August, enrolling 18.53 lakh members, a 9.07% year-on-year (YoY) increase compared to August 2023. Of this, 9.30 lakh were new members, marking a 0.48% growth in new enrollments from the previous year.
The Ministry of Labour and Employment credited this increase to rising employment opportunities, greater awareness of employee benefits, and the EPFO’s effective outreach initiatives.
A dominant portion of the new enrollments, 59.26%, came from the 18-25 age group, reflecting a growing number of young workers entering the organized sector. The net payroll data for this age group stood at 8.06 lakh for the month. The ministry noted that these figures align with the trend of first-time job seekers joining the workforce.
Female members also showed a notable rise, with 2.53 lakh new enrollments, reflecting a 3.75% YoY increase. Net female member additions reached 3.79 lakh, signaling a shift towards a more inclusive and diverse workforce. Additionally, 13.54 lakh members rejoined the EPFO, indicating a 14.03% YoY growth.
Top states such as Maharashtra, Karnataka, Tamil Nadu, and Haryana contributed 59.17% of the net member additions, with Maharashtra alone accounting for 20.59%.
Also Read: Kanchi Shankaracharya Praises PM Modi’s Leadership, Calls It Key To India’s Growth
Bhat was arrested in October 2021 based on an NIA FIR, accusing him of supporting…
Local media footage showed smoke clouds and a large fire at the site in Kahramankazan,…
The bomb threats caused widespread panic, leading to flight diversions. Over 120 flights, including international…
The court granted Ashish Mishra bail under strict conditions. He must leave Uttar Pradesh within…
It best serves the fundamental interests of our two countries and two peoples for both…
Delhi LG stated that he was unaware of the requirement for the Supreme Court's permission…