EPFO adds 13.41 Lakh net members during October 2024

By  News on air   Dec 25, 2024

The Employees’ Provident Fund Organisation (EPFO) has registered a net addition of 13 lakh 41 thousand members during October this year. The Labour and Employment Ministry said the surge in members can be attributed to growing employment opportunities, increased awareness of employee benefits, and EPFO’s effective outreach initiatives. The provisional payroll data showed that EPFO enrolled around 7 lakh 50 thousand new members in October of the current fiscal year.

The data showed the dominance of the 18 to 25 age group, constituting over 58 percent of the total members added during the period. The payroll data highlights that approximately 12 lakh 90 thousand members exited and subsequently rejoined EPFO. This figure depicts year-over-year growth of 16.23 percent compared to October 2023. The Ministry noted that a gender-wise analysis of payroll data unveiled that around 2 lakh nine thousand women were added as new members during the month, reflecting a growth of 2.12 percent in comparison to the same period last year.