The Employees’ Provident Fund Organisation (EPFO) has published its provisional payroll data for November 2024, revealing a net addition of 14.63 lakh members. This marks a 9.07% rise compared to October 2024 and a 4.88 percent year-on-year growth from November 2023. The figures highlight increasing employment opportunities and greater awareness of employee benefits, driven by EPFO’s effective outreach strategies.
In November 2024, approximately 8.74 lakh new members joined EPFO, indicating a 16.58 percent increase over October 2024 and an 18.80 percent year-on-year growth compared to November 2023. This surge is attributed to expanding employment opportunities, heightened awareness of employee benefits, and EPFO’s robust engagement initiatives.
The 18-25 age group showed significant representation, with 4.81 lakh new members, accounting for 54.97 percent of the total new additions in November 2024. This group experienced a 9.56 percent month-on-month increase and a 13.99 percent year-on-year growth. Additionally, net payroll data for this age group totalled 5.86 lakh, reflecting a 7.96 percent rise over October 2024, consistent with trends showing that many first-time job seekers join the organised workforce within this demographic.
Approximately 14.39 lakh members exited and rejoined EPFO in November 2024, representing an 11.47 percent month-on-month growth and a 34.75 percent year-on-year increase compared to November 2023. These members switched jobs but chose to transfer their funds instead of withdrawing them, ensuring financial security and continued social protection.
Gender-specific data revealed that 2.40 lakh new female members joined in November 2024, marking a 14.94 percent increase compared to October 2024 and a 23.62 percent year-on-year growth from November 2023. Overall, net female member additions reached 3.13 lakh, reflecting a 12.16 percent month-on-month rise and an 11.75 percent year-on-year increase. This growth highlights progress toward a more inclusive workforce.
A state-wise analysis showed that the top five states/UTs contributed 59.42 percent of the total net member additions, adding around 8.69 lakh members in November 2024. Maharashtra led the list, accounting for 20.86 percent of net additions. Other significant contributors included Karnataka, Tamil Nadu, Haryana, Gujarat, Delhi, Telangana, and Uttar Pradesh, each adding over 5 percent of the total net members.
Industry-wise data revealed considerable growth in sectors such as Societies, Clubs, Engineering Contractors, Textiles, Garment manufacturing, and General Engineering. Expert services, including manpower suppliers, contractors, security services, and miscellaneous activities, accounted for 38.98 percent of total net additions.
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