In September, EPFO added a net total of 17.21 lakh new members. The organized sector has seen notable growth in the number of new positions. This data was gathered from publicly available records pertaining to individuals who are paid a regular salary. The Labour Ministry released a statement on Monday that contained this information. According to the Labour Ministry, a net of 21,475 new members joined EPFO in September as opposed to August of this year. In the same month this year, a net of 38,262 additional members were joined compared to September 2022 on an annual basis.
According to the ministry, 8.92 lakh
new people signed up for EPFO schemes in September. 58.92 percent of the new members are between the ages of 18 and 25. This demonstrates that a sizable portion of the members who are employed are young. Many of these are individuals who recently started working. 11.93 lakh participants emerged first. According to data on individuals on regular wage (payroll), 11.93 lakh members have left EPFO but are re-joining. It implies that he is no longer employed. The statement claims that these members resumed their employment with EPFO-accredited enterprises after changing occupations. These individuals made the decision to move their Employees’ Provident Fund, or EPF, to the new institution instead of applying for a final settlement.
8.92 lakh additional members
The report indicates that 3.67 lakh members of EPFO departed in September. This is a decrease of 12.17 percent from the prior month. Beginning in June 2023, fewer members are departing EPFO. According to the government, 8.92 lakh new members signed up in the month. Of these, 2.26 lakh are women members who have recently joined EPFO for the first time. Additionally, 3.30 lakh women online are connected to EPFO.
What state was the best?
Looks at the state-by-state data of ‘Payroll’ shows that Gujarat, Maharashtra, Tamil Nadu, Karnataka, and Haryana added the most new members. They account for 57.42% of the net new member additions. 9.88 lakh new members came from these states. The data shows a notable growth in the number of individuals employed in the travel agency, iron and steel, sugar, courier, and other industries. Given that the process of creating data is ongoing. Under such circumstances, employment records are updated on a regular basis. These numbers are therefore provisional.
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