EPFO Boosts Membership with 9.33% Growth in September

The Employees' Provident Fund Organisation (EPFO) reported a 9.33% growth in net member additions in September 2024, attributing it to employment opportunities and effective outreach. Notably, 59.95% of new members are aged 18-25. Significantly, female membership rose by 12%, indicating a trend towards workplace diversity.

The Employees' Provident Fund Organisation (EPFO) has announced a significant growth in its net member additions, recording a 9.33% increase in September 2024 compared to the same month last year. This boost is largely attributed to rising employment opportunities and enhanced awareness of employee benefits.

A prominent trend observed in the data is the dominance of the youth demographic, with the 18-25 age group's participation accounting for 59.95% of the total new members last month. This reflects a pattern of predominantly first-time job seekers entering the organised workforce.

Additionally, there is a notable surge in female member additions, which increased by 12% year-on-year, signaling a shift towards a more diverse and inclusive workforce. State-wise, Maharashtra led in net member additions, contributing 21.20% of the month's increase.

(With inputs from agencies.)