The Employees’ Provident Fund Organisation (EPFO) recorded a net addition of 17.21 lakh members in September, the Ministry of Labour and Employment mentioned on Monday.
Around 8.92 lakh new members enrolled right through September 2023, the ministry mentioned. This was once an build up of 21,475 net members over the former month of August. Yearwise, the payroll information displays an build up of 38,262 net members over September 2022.
The ministry mentioned that amongst those newly joined members, the age staff of 18-25 years constituted about 58.92% of the full new members added right through the month.
“This demonstrates that a majority of the members joining the organised sector workforce of the country are youth, who are mostly first-time job seekers,” it defined.
The ministry additionally mentioned that payroll information confirmed that roughly 11.93 lakh members exited however 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,” it added.
The ministry said that of the 8.92 lakh new members added right through the month, round 2.26 lakh are feminine members, who joined EPFO for the primary time. Also, the net feminine member addition right through the month stood at round 3.30 lakh.
State-wise, the highest collection of additions have been from Maharashtra. It was once adopted by means of 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 labour ministry identified.
Further, the ministry added {that a} month-on-month comparability of industry-wise information confirmed an important expansion in the members running in institutions in the sugar {industry}, courier services and products, iron and metal, hospitals, and trip businesses amongst others.
“Of the total net membership, around 41.46% addition is from expert services (consisting of manpower suppliers, normal contractors, security services, miscellaneous activities etc.),” it mentioned.
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