The Employees’ Provident Fund Organisation (EPFO) added 19.94 lakh net members in July, the highest since payroll data tracking began in April 2018. According to the Ministry of Labour and Employment, 10.52 lakh new members joined EPFO in July, marking a 2.66% increase over June and a 2.43% rise from last year.
Union Minister Dr. Mansukh Mandaviya attributed the surge in new memberships to increased employment opportunities, better awareness of employee benefits, and EPFO’s outreach initiatives.
Record Re-Entries and Youth Participation
In July, 14.65 lakh members who had previously exited the system rejoined EPFO. This reflects a 15.25% year-over-year increase. Many of these members opted to transfer their provident fund accumulations, ensuring long-term financial security.
The 18-25 age group saw the highest growth, with 8.77 lakh net additions, marking the largest increase in this demographic since 2018. First-time job seekers in this age group made up 59.41% of all new members.
Significant Growth in Female Membership
In July, 4.41 lakh female members joined EPFO, a record monthly addition. This marked a 14.41% rise compared to July 2023. Maharashtra, Karnataka, Tamil Nadu, Haryana, and Gujarat contributed 59.27% of the total net member additions.
Maharashtra led with 20.21% of all new members. Notably, 38.91% of the total additions came from expert services, including contractors, manpower suppliers, and security services.
The payroll data remains provisional as employee records are continuously updated.
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