New Delhi: The Employees’ Provident Fund Organisation (EPFO) has reported its highest-ever monthly payroll addition in July 2024. As per data, more than 19.94 lakh members joined EPFO in July. .
According to data, of the new additions, 10.52 lakh are first-time employees, marking a 2.66 per cent increase over June 2024 and a 2.43 per cent rise compared to July 2023. Of the total 10.52 lakh new EPF subscribers in July, the share of young people belonging to the 18-25 age group also slightly increased to 59.4 per cent (625,000) from June, when 59.1 per cent (606,000) of new subscribers were in this age group. The proportion of women among new subscribers stood at 29 per cent (305,000) during the month.
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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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