look news india
Employees' Provident Fund Organization (EPFO), the government body that manages retirement funds, said in the latest payroll data released on Tuesday that it added a net 15.62 lakh members during December 2023. According to the Labor Ministry, an increase of 11.97 percent has been recorded in the number of members during December 2023 as compared to the previous month. According to the provisional payroll data, the net addition of 15.62 lakh members by the civic body in December is 4.62 per cent higher than December 2022.
About 8.41 lakh new members joined
According to the news, data shows that about 8.41 lakh new members were enrolled during the month under review. The share of 18-25 age group in the total new members added during this period is 57.18 percent. This shows that most of the members joining the organized sector workforce of the country are youth. According to the data, in the month under review, about 12.02 lakh members who were out of EPFO schemes came back.
About 2.09 lakh new members are women
According to the statement, out of the 8.41 lakh new members added, about 2.09 lakh are women members, who have joined EPFO for the first time. This is an increase of 3.54 percent compared to November 2023. Maximum members participated from Maharashtra, Gujarat, Tamil Nadu, Karnataka and Haryana. These states contributed about 58.33% to the net member growth, bringing the total net member addition to 9.11 lakh during the month. Among all states, Maharashtra leads with 21.63% net member growth during the month.
Updating employee records is a frequent process
The above payroll data is provisional as data generation is a frequent process, as updating employee records is a frequent process. Therefore the previous data is updated every month. From the month of April-2018, EPFO is releasing payroll data covering the period from September, 2017 onwards. In the monthly payroll data, count of members who joined EPFO for the first time through Aadhaar validated Universal Account Number (UAN), existing members who exited the coverage of EPFO and those who exited but re-joined as members. Went. , they are charged monthly to access the net.