New Delhi: The Employees’ Provident Fund Organisation (EPFO) has added 16.30 lakh net members during May this year. The provisional payroll data released by EPFO has revealed this.
As per the data, more than 3000 establishments have extended the social security coverage of EPFO to their employees. Around 9 lakh new members enrolled during May, 2023. This is s the highest during last 6 months. Among the newly joined members, the age group of 18 to 25 years constitutes over 56% of total new members added during the month.
Also Read: Forex Market: Indian rupee falls against US dollar
EPFO is the country’s principal organization responsible for providing social security benefits to the organized/semi-organized sector workforce covered under the EPF & MP Act, purview, 1952. The payroll data is provisional since the data generation is a continuous exercise, as the updation of employee records is a continuous process. The previous data hence gets updated every month.
Post Your Comments