EPFO Records Major Surge in New Memberships in July 2024

The Employees' Provident Fund Organisation (EPFO) recorded a net addition of 19.94 lakh members in July 2024, with significant contributions from the 18-25 age group as well as female workers. This substantial increase in new memberships is attributed to growing employment opportunities and successful outreach initiatives.

The Employees' Provident Fund Organisation (EPFO) saw a substantial growth in its membership in July 2024, with a net addition of 19.94 lakh members, according to the labour ministry's recent report.

Union Labour Minister Mansukh Mandaviya highlighted that 10.52 lakh new workers subscribed to EPFO's social security schemes for the first time in July. Notably, the 18-25 age group saw a significant increase, with 8.77 lakh new additions, comprising 59.41% of the total new members.

The report also indicates a rise in female employment, with 4.41 lakh female members joining, including 3.05 lakh new joinees. Factors contributing to this surge include higher employment opportunities and effective EPFO outreach programs.

(With inputs from agencies.)