EPFO's Record Membership Surge in April: Payroll Data Reveals Massive Growth

Employees' Provident Fund Organisation (EPFO) added a record 18.92 lakh net members in April 2024, marking the highest increase since April 2018. Various factors like increased employment opportunities, awareness of employee benefits, and effective outreach programs contributed to the surge. The net addition includes 8.87 lakh new members, predominantly young jobseekers aged 18-25.

In a historic achievement, the Employees' Provident Fund Organisation (EPFO) reported a record addition of 18.92 lakh net members for April 2024, according to payroll data released on Thursday.

This surge, the highest since EPFO began publishing such data in April 2018, reflects a notable 31.29 percent increase compared to March 2024. Key factors driving this growth include a rise in employment opportunities, heightened awareness of employee benefits, and successful outreach initiatives by EPFO.

The data further shows a dominance of young jobseekers, especially those aged 18-25, and a significant increase in female membership, indicating steps toward a more diverse and inclusive workforce. Maharashtra led the states in net member additions, encapsulating broader economic and social trends shaping India's employment landscape.

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