The Employees’ Provident Fund Organisation (EPFO) recorded a net addition of 17.21 lakh members in September, the Ministry of Labour and Employment said on Monday.

The data showed that approximately 11.93 lakh members exited but rejoined EPFO in September.(File)

Around 8.92 lakh new members enrolled during September 2023, the ministry said. This was an increase of 21,475 net members over the previous month of August. Yearwise, the payroll data reflects an increase of 38,262 net members over September 2022.

The ministry said that among these newly joined members, the age group of 18-25 years constituted about 58.92% of the total new members added during the month.

“This demonstrates that a majority of the members joining the organised sector workforce of the country are youth, who are mostly first-time job seekers,” it explained.

The ministry also said that payroll data showed that approximately 11.93 lakh members exited but rejoined EPFO.

“These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus, extending their social security protection,” it added.

The ministry stated that of the 8.92 lakh new members added during the month, around 2.26 lakh are female members, who joined EPFO for the first time. Also, the net female member addition during the month stood at around 3.30 lakh.

State-wise, the highest number of additions were from Maharashtra. It was followed by Tamil Nadu, Karnataka, Gujarat and Haryana.

“These states constitute around 57.42% of net member addition, adding a total of 9.88 lakh members during the month. Of all the states, Maharashtra is leading by adding 20.42% of net members during the month,” the labour ministry pointed out.

Further, the ministry added that a month-on-month comparison of industry-wise data showed a significant growth in the members working in establishments in the sugar industry, courier services, iron and steel, hospitals, and travel agencies among others.

“Of the total net membership, around 41.46% addition is from expert services (consisting of manpower suppliers, normal contractors, security services, miscellaneous activities etc.),” it said.

Source link