The Employees’ Provident Fund Organisation (EPFO) has added 12.94 lakh net members in the month of October, this year. The provisional payroll data released by EPFO shows an increase of 21,026 in net membership in October 2022 as compared to the corresponding month during last year in 2021.
According to the Ministry of Labour and Employment, out of the total 12.94 lakh members added during the period, around 7.28 lakh new members have come under the coverage of EPFO for the first time.
Among the new members, the highest number was registered for the age group of 18 to 21 years with 2.19 lakh members. Nearly 57.25 percent are from the age group of 18 to 25 years.
The Ministry said, this shows that first-time job seekers are joining the organised sector workforce in large numbers following their education, and new jobs in organised sector are largely reaching the youth of the country.
The Ministry added that nearly 5.66 lakh net members exited but rejoined EPFO by changing their jobs within the establishments covered by it.
State-wise payroll figures also highlight that a month-on-month growing trend in net member addition was observed month-on-month in Kerala, Madhya Pradesh, and Jharkhand.
Maharashtra, Karnataka, Tamil Nadu, Delhi, and Haryana have added approximately 7.78 lakh net members during the month, which is 60.15 per cent of the total net payroll addition across all age groups.