Business

EPFO adds more than 18 lakh net subscribers in July 2022

Employees’ Provident Fund Organisation (EPFO) added 18 lakh 23 thousand net members in July this year registering a growth of 24.48 percent in comparison to the same month of the last year, 2021.

The provisional payroll data of EPFO reflects that more than 10 lakh new members out of 18.23 lakh members have come under the social security cover of EPFO for the first time.

According to the data, more than 57 percent are from the age group of 18 to 25 years in the 10.58 lakh new members added in July this year. The data shows that first-time job seekers are joining the organized sector workforce in large numbers.

Among the total new members joining EPFO in July, enrollment of the female workforce was recorded 27.54 percent, which is the highest in the last 12 months. This indicates that female participation is rising in the organized workforce.

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