The number of net enrollees increased by 31.29 percent from the corresponding figure in March 2024, provisional payroll data shows.
Year-on-year analysis reveals 10 percent growth in net member additions compared to April 2023.
This increase in membership can be attributed to increased employment opportunities, increased awareness of employee benefits and effectiveness of EPFO outreach programmes, the Ministry said.
Data indicates that around 8.87 lakh new members enrolled during April 2024.
A notable aspect of the data is the predominance of the 18-25 age group, which constitutes a significant 55.5 percent of the total new members added in April 2024.
This is in line with the previous trend indicating that the majority of people joining the organized labor force are young people, mainly first-time job seekers.
According to payroll data, approximately 14.53 lakh members left the EPFO and subsequently rejoined.
This figure represents an increase of 23.15 percent compared to the previous month of March 2024.
These members changed jobs and rejoined establishments covered under the ambit of EPFO and opted to transfer their savings instead of seeking final liquidation, thereby safeguarding long-term financial well-being and extending their social security protection.
Gender analysis of payroll data reveals that out of 8.87 lakh new members, around 2.49 lakh are new women.
Additionally, the net addition of female members during the month stood at around 3.91 lakh, reflecting an increase of approximately 35.06 per cent compared to the previous month of March 2024.
The increase in women joining as members is indicative of a broader shift toward a more inclusive and diverse workforce.
State analysis of payroll data indicates that the net addition of members is highest in the five states of Maharashtra, Karnataka, Tamil Nadu, Gujarat and Haryana.
These states constitute around 58.3 per cent of the net member addition, adding up to a total of 11.03 lakh net members during the month.
Of all states, Maharashtra leads by adding 20.42 per cent net members during the month.
Furthermore, of the total net members, around 41.41 percent come from specialized services (composed of labor providers, normal contractors, security services, miscellaneous activities, etc.)
Payroll data is provisional as data generation is an ongoing exercise, just as updating the employee record is an ongoing process.
Year-on-year analysis reveals 10 percent growth in net member additions compared to April 2023.
This increase in membership can be attributed to increased employment opportunities, increased awareness of employee benefits and effectiveness of EPFO outreach programmes, the Ministry said.
Data indicates that around 8.87 lakh new members enrolled during April 2024.
A notable aspect of the data is the predominance of the 18-25 age group, which constitutes a significant 55.5 percent of the total new members added in April 2024.
This is in line with the previous trend indicating that the majority of people joining the organized labor force are young people, mainly first-time job seekers.
According to payroll data, approximately 14.53 lakh members left the EPFO and subsequently rejoined.
This figure represents an increase of 23.15 percent compared to the previous month of March 2024.
These members changed jobs and rejoined establishments covered under the ambit of EPFO and opted to transfer their savings instead of seeking final liquidation, thereby safeguarding long-term financial well-being and extending their social security protection.
Gender analysis of payroll data reveals that out of 8.87 lakh new members, around 2.49 lakh are new women.
Additionally, the net addition of female members during the month stood at around 3.91 lakh, reflecting an increase of approximately 35.06 per cent compared to the previous month of March 2024.
The increase in women joining as members is indicative of a broader shift toward a more inclusive and diverse workforce.
State analysis of payroll data indicates that the net addition of members is highest in the five states of Maharashtra, Karnataka, Tamil Nadu, Gujarat and Haryana.
These states constitute around 58.3 per cent of the net member addition, adding up to a total of 11.03 lakh net members during the month.
Of all states, Maharashtra leads by adding 20.42 per cent net members during the month.
Furthermore, of the total net members, around 41.41 percent come from specialized services (composed of labor providers, normal contractors, security services, miscellaneous activities, etc.)
Payroll data is provisional as data generation is an ongoing exercise, just as updating the employee record is an ongoing process.
