New Delhi: Employees’ Provident Fund Organisation (EPFO) has added 15.62 lakh net members during December 2023. This is the highest in the last three months. An increase of 11.97% has been registered in net member addition during December as compared to November 2023.The year-on-year analysis reveals a growth of 4.62% in net member additions compared to December 2022. The provisional payroll data released by EPFO revealed this.
Meanwhile, approximately 12.02 lakh members exited but rejoined EPFO. This figure represents a significant 12.61% increase compared to November 2023 and stands as the highest recorded in the past five months. These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement.
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Out of 8.41 lakh new members, around 2.09 lakh are new female members. This figure marks the highest recorded addition of female workforce in the last three months. The comparison with the previous month of November 2023 shows an increase of 7.57%. Also, the net female member addition during the month stood at around 2.90 lakh reflecting an increase of approximately 3.54 % compared to November 2023.
State-wise analysis of payroll data denotes that net member addition is highest in the 5 states/ UTs of Maharashtra, Gujarat, Tamil Nadu, Karnataka, and Haryana. These states constitute around 58.33% of net member addition, adding a total of 9.11 lakh net members during the month. Of all the states, Maharashtra is leading by adding 21.63% of net members during the month.
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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