Last Updated: Jan 21, 2024
Employees’ Provident Fund Organisation’s (EPFO) provisional payroll data highlighted that the organisation has added 13.95 lakh net members in November 2023. In an official statement, the Ministry of Labour and Employment said, the cumulative net addition of members during the current financial year continues to remain higher than that of the corresponding period of the previous year. The data indicates that around 7.36 lakh new members have enrolled during November 2023. Among the newly joined members, the age group of 18-25 years constitutes 57.30 percent of total new members added during the month, showing that the majority of the members joining the organised sector workforce of the country are youth, who are mostly first-time job seekers, the statement added. The payroll data reflected that approximately 10.67 lakh members exited but rejoined EPFO. These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus, extending their social security protection. As per the statement, gender-wise analysis of payroll data represented that out of the total 7.36 lakh new members added during the month, around 1.94 lakh are new female members, joining EPFO for the first time. State-wise analysis of payroll data denotes that net member addition is highest in the 5 states/ UTs of Maharashtra, Tamil Nadu, Karnataka, Haryana, and Delhi.