New Delhi: According to the payroll data released by EPFO on March 24, 2024, the organization has added 16.02 lakh net members in January 2024. The month-on-month data reveals that 8.08 lakh new members joined the organization, with a significant 56.41 percent of them falling in the 18-25 age group.
This age group has made up the majority of the new members, indicating a shift towards a more inclusive and diverse workforce. The data further states that about 12.17 lakh members left EPFO and subsequently rejoined the organization. These members opted to transfer their accumulations instead of applying for final settlement, which safeguards their long-term financial security and extends their social security protection.
In a gender-wise analysis of the payroll data, it has been found that 2.05 lakh are new female members, with a net increase of 3.03 lakh over the month. This reflects a broader shift towards a more inclusive and diverse workforce. The industry-wise data shows growth in the members working in establishments engaged in the industries viz. Finance, Manufacturing & Marketing, Service & Usage of Computers, Hospitals, etc.
The above payroll data is provisional as the updating of employee records is a continuous process. The previous data is updated every month. From April 2018, EPFO has been releasing payroll data covering the period September 2017 onwards. The monthly payroll data includes the count of members who joined EPFO for the first time through Aadhaar validated Universal Account Number (UAN), existing members who exited from coverage of EPFO, and those who exited but re-joining as members.