The Employees’ Provident Fund Organisation (EPFO) recorded a net addition of 13.41 lakh members in October 2024, as per provisional payroll data released by the Ministry of Labour and Employment on December 25, 2024. This surge underscores the growing formal workforce in India and reflects positive trends in employment and social security awareness.
Among the new additions, EPFO enrolled 7.50 lakh first-time members during October, demonstrating a steady influx of employees into the organized sector.
Youth Dominate New Enrollments
A notable feature of the data is the dominance of young workers aged 18-25 years, who represented 58.49% of the total new members. This age group added 5.43 lakh members, reaffirming earlier patterns that show first-time job seekers forming a significant part of the organized workforce.
Also Read: EPFO Reports 1.34 Million Member Surge In October
Rejoining Members Reflect Financial Security
Approximately 12.90 lakh members exited and rejoined EPFO in October, marking a 16.23% year-on-year increase compared to October 2023. These rejoining members opted to transfer their provident fund accumulations instead of seeking final settlements, showcasing a focus on long-term financial stability and extended social security coverage.
Increase in Female Workforce Participation
The gender-wise analysis highlights that 2.09 lakh women joined EPFO as new members in October, reflecting a 2.12% year-on-year growth compared to the same month in 2023.
In total, 2.79 lakh female members were added during the month, signaling a broader shift toward greater inclusivity and gender diversity in the workforce.
Regional and Sectoral Trends
Maharashtra led the states with the highest net member additions, contributing 22.18% of the total. The top five states and Union Territories Maharashtra, Karnataka, Tamil Nadu, Delhi, and Haryana—together accounted for 61.32% of net member additions, adding 8.22 lakh members.
Several other states, including Telangana and Gujarat, also contributed significantly, each adding more than 5% of the total new members.
Industry-wise, the expert services sector comprising manpower suppliers, contractors, and security services—dominated with 42.29% of the net additions. Sectors like road transport, private electronic media, and non-nationalized banks also reported notable growth in membership.
Regular Updates to Payroll Data
Since April 2018, EPFO has been publishing payroll data, covering records from September 2017 onward. This data accounts for new members joining through Aadhaar-validated Universal Account Numbers (UAN), members exiting the EPFO system, and those rejoining, providing a comprehensive view of workforce trends.
Positive Outlook
The robust additions in October 2024 reinforce the growing formalization of India’s workforce and the increasing awareness of social security benefits. These trends highlight the effectiveness of government policies in promoting employment and financial well-being across the country.
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