The Employees Provident Fund Organisation (EPFO) has released the provisional payroll data highlighting that EPFO has added 17.21 lakh net members in September 2023.
Month-on-month comparison of payroll data shows an increase of 21,475 net members over August 2023.
Year-on-year comparison of payroll data reflects an increase of 38,262 net members over the previous year of September 2022.
The data indicates that around 8.92 lakh new members have enrolled during September 2023. Among these newly joined members, the age group of 18-25 years constitutes 58.92% of the total new members added during the month. This demonstrates that the majority of the members joining the organised sector workforce of the country are youth, who are mostly first-time job seekers.
Payroll data shows that approximately 11.93 lakh members exited but rejoined EPFO. These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus, extending their social security protection.
Gender-wise analysis of payroll data represents that out of the total 8.92 lakh new members added during the month, around 2.26 lakh are new female members, joining EPFO for the first time. Also, the net female member addition during the month stood at around 3.30 lakh.
State-wise analysis of payroll data denotes that net member addition is highest in the 5 states of Maharashtra, Tamil Nadu, Karnataka, Gujarat, and Haryana. These states constitute around 57.42% of net member addition, adding a total of 9.88 lakh members during the month. Of all the states, Maharashtra is leading by adding 20.42% of net members during the month.
The EPFO provisional payroll data released highlights that EPFO has added 16.99 lakh net members in August 2023.
The data reveals that 3,210 establishments have extended social security coverage of EPFO to their employees by remitting their first ECR during the month.
The data indicates that around 9.26 lakh new members have enrolled during August 2023. Among the newly joined members, the age group of 18-25 years constitutes 58.36% of the total new members added during the month.