Employees’ Provident Fund Organisation(EPFO) , a retirement fund body added 13.95 lakh net members in November previous year, as per the latest payroll data released on Saturday.
Payroll data reflects that about 10.67 lakh members exited but rejoined EPFO during the month. In fact, these members switched jobs and rejoined the establishments covered under the EPFO, and decided on transferring their accumulations instead of applying for final settlement, thereby extending their social security protection, it stated.
From total new members added during the month , around 57.30 per cent of them were from the age group of 18-25 years , showing that a majority of members joining the organised sector workforce of the country are youth, who are mostly freshers seeking the job for the first time.
Women Empowerment:EPFO data shows growing participation of women in an organised sector……
As Total female members addition during the month stood at around 2.80 lakh. Percentage of net female members of net subscriber addition stood at 20.05 per cent — the highest since September 2023.
States/UTs like Maharashtra, Tamil Nadu, Karnataka, Haryana, and Delhi registered highest number of net member addition ,as per the payroll data.Of all states, Maharashtra led with 21.60 per cent net members additions.
Cumulative net addition of members during the current financial year continues to remain higher than that of the respective period of the previous year, as per the labour ministry statement.
The above payroll data is provisional since data generation is a continuous exercise, as updating employee record is a continuous process.
EPFO has been releasing payroll data from April 2018 , also covering the period of September 2017.
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