2024-02-22 12:47:11
New Delhi: Employees Provident Fund Organization i.e. EPFO has released the latest payroll figures on Tuesday. The organization managing the retirement fund has said that in December 2023, it added a net of 15.62 lakh members. According to the Labor Ministry, an increase of 11.97 percent has been recorded in the number of members during December 2023 as compared to the previous month. The increase in the number of EPPAO subscribers indicates several things. These show that employment is being created in the economy. When more people get jobs, they contribute to EPFO. This increases the membership number.
According to EPFO’s provisional payroll data, the organization added a net 15.62 lakh members in December. This is an increase of 4.62 percent compared to December 2022. The data shows that around 8.41 lakh new members were enrolled during the month under review.
The share of people aged 18-25 is more than 57%.
Of the total new members added during this period, the share of 18-25 age group is 57.18 percent. This shows that most of the members joining the organized sector workforce of the country are youth. According to the data, about 12.02 lakh members who had gone out of EPFO schemes came back in the month under review.
More than 2 lakh women among new members
According to the statement, out of the 8.41 lakh new members added, about 2.09 lakh are women members, who have joined EPFO for the first time. This is an increase of 3.54 percent compared to November 2023. Maximum members participated from Maharashtra, Gujarat, Tamil Nadu, Karnataka and Haryana.