New Delhi: The Employees’ Provident Fund Organisation (EPFO) has added 16.99 lakh members on net basis in August this year. Data released by the Labour and Employment Ministry revealed this.
As per data, more than 3,000 establishments have extended social security cover of EPFO to their employees by remitting their first electronic return during the reported month. Among the newly joined members, the age group of 18 to 25 years constitutes over 58% of total new members.
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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.
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