Data Alert
EPFO adds net 1.99 mln subscribers in July
This story was originally published at 16:42 IST on 23 September 2024
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NEW DELHI – The Employees' Provident Fund Organisation net added 1.99 mln subscribers in July, according to data released today by the labour ministry. The EPFO had net added 1.93 mln subscribers in June.
Of the 1.99 mln subscribers added in July, around 1.05 mln came under the social security cover of the EPFO for the first time, up 2.4% on year. "These rising numbers denote growing employment opportunities and increased awareness of employee benefits," Labour Minister Mansukh Mandaviya said at a press conference today.
Around 877,000 members were added in the age group of 18-25 years, which makes up 59.4% of the total new members added during the month. The first-time members included around 305,000 female members, up 10.9% on year.
The net growth in female members during the month was 14.4% on year at 441,000, the highest monthly addition for women since payroll tracking began in 2017.
Maharashtra, Karnataka, Tamil Nadu, Haryana, and Gujarat accounted for 59.3% of the total net member additions in July, collectively adding 1.18 mln members. Maharashtra added the most members on a net basis, contributing 20.2% to the total new members.
Manufacturing, computer services, and construction sectors witnessed a sharp rise in membership in July, the labour ministry said in a release. "Notably, 38.9% of net additions came from expert services, including manpower suppliers, contractors, and security services, among others." End
Reported by Shubham Rana
Edited by Avishek Dutta
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