The Employees’ Provident Fund Organisation enrolled around 8.74 lakh new members in November 2024, registering an 18.8% rise from the figure recorded in the corresponding period in 2023, the Union Labour Ministry said on Wednesday (January 22, 2025).
On a monthly basis, new members rose by 16.58% over October 2024.
“This surge in new memberships can be attributed to growing employment opportunities, increased awareness of employee benefits, and EPFO’s successful outreach programmes,” the Ministry claimed in a release.
The net addition of members was 14.63 lakh, which is an increase of 9.07% compared with October 2024 and 4.88% compared with November 2023.
The Ministry said a noticeable aspect of the payroll data for November 2024 was the dominance of young new members (18-25 age group). The EPFO added 4.81 lakh new members in the 18-25 age group constituting 54.97% of the total new members added in November 2024. “New members added in the month from 18-25 age group shows an increase of 9.56% compared with previous month of October 2024 and a growth of 13.99% from the previous year in November 2023,” the Ministry said.
Approximately 14.39 lakh members exited and subsequently rejoined the EPFO. “This figure represents 11.47% increase compared to the previous month of October 2024. It also depicts a significant year-over-year growth of 34.75% compared to November 2023,” the Ministry said.
Of the new members added, around 2.4 lakh were women. “The comparison with the previous month of October 2024 shows an increase of 14.94%. This figure also exhibits significant year-over-year growth of 23.62% compared to November 2023. Also, the net female member addition during the month stood at around 3.13 lakh reflecting an increase of approximately 12.16% compared to the previous month of October 2024,” the Ministry said.
Maharashtra, Karnataka, Tamil Nadu, Haryana, Gujarat, Delhi, Telangana, and Uttar Pradesh individually added more than 5% of the total net members during the month.
Published - January 22, 2025 09:27 pm IST
