Employees Provident Fund Organisation: Releasing the data on Tuesday, the Employees Provident Fund Organization (EPFO) said that 19.29 lakh members have joined it during June 2024. Out of these, 10.25 lakh are new members. On an annual basis, there has been a jump of 7.86 percent in the EPFO member figures as compared to June 2023. EPFO said that this figure is increasing due to the rise in employment opportunities, benefits of employee benefits and awareness about EPFO schemes.
18-25 year olds are getting the most jobs
EPFO data shows that about 10.25 lakh new members have been enrolled during June 2024. The number of new members has increased by 4.08 percent as compared to May 2024. Also, it has increased by 1.05 percent as compared to June 2023. Among the new members, the number of members in the age group of 18-25 is 59.14 percent of the total members. This shows that more and more youth are getting employment. These also include a large number of youth doing their first job.
14.15 lakh members re-joined EPFO after changing jobs
Payroll data shows that about 14.15 lakh members left EPFO and rejoined. This figure shows an increase of 11.79 per cent annually as of June 2023. These members changed their jobs and rejoined the establishments covered by EPFO. They have transferred the account instead of withdrawing the amount. This ensured their social security.
Out of the new members, around 2.98 lakh are women members
According to EPFO, about 2.98 lakh of the new members are women members. This figure has increased by 5.88 percent as compared to June 2023. A total of 4.28 lakh women members have joined in June 2024. This figure has also gone up by 8.91 percent as compared to June 2023. Maharashtra, Karnataka, Tamil Nadu, Gujarat and Haryana have the highest number of members.
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