New Delhi: The Employees’ Provident Fund Organisation (EPFO)has added 19.29 lakh new members in June. This is a growth of 7.86 percent in comparison to same month of the last year. The provisional payroll data released by EPFO revealed this.
The data indicates that around 10.25 lakh new members have enrolled during June 2024, registering an increase of 4.08% in the new members from the previous month of May 2024 and 1.05% increase from the previous year June 2023.
The 18-25 age group constituted a significant 59.14% of the total new members added in June 2024. As per data, approximately 14.15 lakh members exited and subsequently rejoined EPFO. This figure depicts year over year growth of 11.79% compared to June 2023.
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Gender-wise analysis of payroll data reveals that out of new members added during the month, around 2.98 lakh are new female members. This figure report year over year growth of 5.88% compared to June 2023. Also, the net female member addition during the month stood at around 4.28 lakh reflecting year over year growth of 8.91% compared to June 2023.
State-wise analysis of payroll data denotes that net member addition is highest in the five states/ UTs of Maharashtra, Karnataka, Tamil Nadu, Gujarat, and Haryana. These states constitute around 61.16% of net member addition, adding a total of 11.8 lakh net members during the month. Of all the states, Maharashtra is leading by adding 21.09% 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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