Employment Data

The Employees’ Provident Fund Organisation (EPFO) published provisional payroll data for September 2024, indicating a net addition of 18.81 lakh members, indicating a 9.33 percent year-on-year growth compared to September 2023. This growth points to improved employment prospects and increased awareness of employee benefits.

In September 2024, approximately 9.47 lakh new members were registered, marking a 6.22 percent increase in new enrollments from September 2023. This rise is attributed to expanded employment opportunities and effective outreach initiatives by the EPFO.

A key highlight of the data is the prominence of the 18-25 age group, which comprised 59.95 percent of the total new members in September 2024. The payroll data for this demographic showed a net addition of 8.36 lakh members, reflecting a 9.14 percent year-on-year growth from September 2023. This trend underscores the dominance of young, first-time job seekers in the organised workforce.

The data also revealed that around 14.10 lakh members exited and rejoined EPFO, a year-over-year growth of 18.19 percent compared to September 2023. These members, who switched jobs and rejoined EPFO-covered establishments, opted to transfer their funds rather than withdraw them.

Gender-specific analysis revealed that approximately 2.47 lakh new female members joined EPFO in September 2024, a 9.11 percent increase compared to the previous year. Additionally, the net addition of female members was 3.70 lakh, reflecting a 12.11 percent year-on-year growth. The increasing participation of women indicates progress toward a more inclusive and diverse workforce.

State-wise data shows that the top five states/UTs accounted for 59.86 percent of the total net member additions, with 11.26 lakh net members added in September 2024. Maharashtra led the additions, contributing 21.20 percent of the total, while states such as Karnataka, Tamil Nadu, Delhi, Haryana, Gujarat, Uttar Pradesh, and Telangana each contributed over 5 percent of the total.

Industry-wise analysis reveals notable growth in membership from sectors such as expert services, commercial trading, electrical and mechanical engineering, garment manufacturing, cleaning services, hospitals, financial institutions, and cultural organisations. Expert services, which include manpower supply, contractors, and security services, accounted for 41.69 percent of the total net member additions.

Cover Photo: Freepik.com


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