Youth Power: EPFO's Surge in New Member Enrollments

The Employees' Provident Fund Organisation (EPFO) witnessed a 9.07% increase in net new member additions, reaching 18.53 lakh in August 2024. This growth, driven by employment opportunities and successful outreach programs, highlights significant membership from the 18-25 age group and increased female participation in the organized workforce.

The Employees' Provident Fund Organisation (EPFO) recorded a remarkable 9.07% increase in net new member additions in August 2024, adding 18.53 lakh members compared to the previous year. This boost is primarily attributed to growing employment opportunities and effective outreach programs.

A significant portion of these additions came from individuals aged 18-25, who comprised 59.26% of the new members. The trend highlights a surge in first-time job seekers entering the organized workforce. The gender analysis of the data also revealed a notable increase in female member additions, pointing towards a more diverse and inclusive workforce.

State analysis showed Maharashtra leading with a 20.59% contribution to net additions. Industries such as trading, engineering services, and agriculture saw marked growth in membership. The data remains provisional as updating employee records is a continuous process.

(With inputs from agencies.)