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EPFO data: 24.48% jump in net members in July, highest growth in these 5 states

EPFO data: 24.48% jump in net members in July, highest growth in these 5 states

Of the total 18.23 lakh members added in July, around 10.58 lakh have come under the social security cover of the EPFO for the first time.

The data of new members joining the organisation has shown a growing trend since April, 2022. The data of new members joining the organisation has shown a growing trend since April, 2022.

The Employees' Provident Fund Organisation (EPFO) added 18.23 lakh net members in July, recording an increase of 24.48 per cent compared to the corresponding month last year, the Ministry of Labour and Employment said on Tuesday.

Of the total 18.23 lakh members added in July, around 10.58 lakh have come under the social security cover of the EPFO for the first time. The data of new members joining the organisation has shown a growing trend since April, 2022.

Out of 10.58 lakh new members, approximately 57.69 per cent are from the age group of 18-25 years of age. "This shows that first-time job seekers are joining organized sector workforce in large numbers following their education and new jobs in organized sector are largely going to the youth of the country," the ministry said.

During the month, around 4.07 lakh members exited from the ambit of the organisation and 11.72 lakh members exited and rejoined it. These members have chosen to retain their membership through the transfer of funds rather than opting for a final settlement. This may be attributed to various e-initiatives taken by EPFO for seamless and uninterrupted service delivery, it said.

Gender-wise analysis of payroll data indicates that enrolment of net female members has been 4.06 lakh in July 2022. A year-on-year comparison of enrolment data shows that new members of females in the organized workforce have increased by 34.84% in July 2022 compared with the new female membership during the previous year in July.

Among the total new members joining EPFO during the month, enrolment of the female workforce is recorded as 27.54%, which is the highest in the last 12 months. This indicates that female participation is rising in the organised workforce with respect to new members joining EPFO.

State-wise payroll figures highlight that a month-on-month growing trend in net member addition was observed in the states of Tamil Nadu, Delhi, Telangana, Andhra Pradesh, and Madhya Pradesh.

During the month, the states of Maharashtra, Karnataka, Tamil Nadu, Haryana, Gujarat, and Delhi continue to remain in lead by adding approximately 12.46 lakh net members, which is 68.36 per cent of the total net payroll addition across all age groups.