20 lakh new members joined EPFO, Labor Minister said - employment opportunities are increasing
About 3.05 lakh new women members joined EPFO in July, which shows a growth of 10.94 percent year-on-year. Overall, 4.41 lakh net women members were added, which represents the highest number of women in a month since payroll tracking began. There has been an increase of 14.41 percent in women members as compared to July 2023.
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The EPFO added a total of 19.94 lakh members in July, the highest for any month so far ever since payroll data started in April 2018. As far as net new members are concerned, their number is 10.52 lakh, which is 2.66 percent more than in June and 2.43 percent more than in the same period last year.
Labour Minister Mansukh Mandaviya said this growth in new subscribers is due to increased employment opportunities, growing awareness about the benefits of being an employee, and effective outreach programmes of the EPFO.
About 14.65 lakh members who had exited the EPFO re-joined the organization in July. The figure is an increase of 15.25% year-on-year. 8.77 lakh members joined in July are in the 18-25 years age group. Around 6.25 lakh people in the 18-25 years age group are first-time workers or new members. Around 59.4% of the new members are in the 18-25 years age bracket.
Of that, about 3.05 lakh were new women members who joined the EPFO in July this year, which is a rise of 10.94% over the year-ago month when 2.75 lakh had subscribed to it. The other way of looking at it is that 4.41 lakh net women members have been added to payrolls, the highest number of women in a month since payroll tracking began, and an increase of 14.41% in women membership compared to July 2023.
According to the Ministry of Labor, Maharashtra, Karnataka, Tamil Nadu, Haryana, and Gujarat account for 59.27 percent of the total members. Maharashtra added the highest number of members and contributed 20.21 percent of the total new members.
According to the data, Maharashtra, Karnataka, Tamil Nadu, Haryana and Gujarat account for 59.27 percent of the total net member addition. Maharashtra led the states/union territories, contributing 20.21 percent of the total new members.
