Data Alert
EPFO adds net 1.85 mln subscribers in August, up 9.1% on year
This story was originally published at 10:34 IST on 21 October 2024
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NEW DELHI – The Employees' Provident Fund Organisation net added 1.85 million subscribers in August, 9.1% higher than the corresponding period last year, according to data released Monday by the labour ministry. The EPFO had net added 1.99 mln subscribers in July.
Of the 1.85 mln subscribers added in August, around 930,000 came under the social security cover of the EPFO for the first time, up 0.5% on year. This increase can be attributed to growing employment opportunities, increased awareness of emp1oyee benefits, and EPFO's successful outreach programs, the ministry said in the release.
Of the total new members added during the month, around 59.3% were in the age group of 18-25. The first-time members included around 253,000 females, up 3.8% on year. The net growth in female members during the month was 10.4% on year at 379,000.
Maharashtra, Karnataka, Tamil Nadu, Haryana, and Gujarat accounted for 59.2% of the total net member additions in August, collectively adding 1.10 million members. Maharashtra added the most members on a net basis, contributing 20.6% to the total new members.
According to the release, sectors like trading in commercial establishments, engineers and contractors, agricultural farms, and beedi making saw a significant rise in membership in July. "Of the total net membership, around 40.36?dition is from expert services consisting of manpower suppliers, normal contractors, security services, miscellaneous activities etc," it added. End
Reported by Priyasmita Dutta
Edited by Tanima Banerjee
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