EPFO adds 18.23 lakh net members in July

21 Sep 2022 , 12:03 PM

Employees Provident Fund Organisation (EPFO) added 18.23 lakh net members in July 2022, a year-on-year increase of 24.48% compared with the corresponding month last year, the provisional payroll data showed. Of the total 18.23 lakh members added during the month, around 10.58 lakh new members have come under the social security cover of EPFO for the first time. The data of new members joining EPFO has shown a growing trend since April 2022. Out of 10.58 lakh new members added, approximately 57.69% 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. Among the total new members joining EPFO during the month, enrolment of female workforce is recorded as 27.54%, which is the highest in 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 highlights that month-on-month growing trend in net member addition was observed in the states of Tamil Nadu, Delhi, Telangana, Andhra Pradesh & 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 during the month, which is 68.36% of total net payroll addition across all age groups. Powered by Capital Market – Live News