EPFO Payroll Data: Employees Provident Fund Organization- Employee Provident Fund Organization (EPFO) has added a net of 16.99 lakh members in August, 2023. This information was given in the payroll data released on Friday about those who get jobs on regular salary. The Labor Ministry said in a statement that an annual comparison of the figures shows a slight increase in the number of net members this year as compared to August 2022.
Slight increase in net members as compared to August, 2022
EPFO’s provisional payroll data released today shows that EPFO has added 16.99 lakh members in the month of August, 2023. Year-on-year comparison of payroll data shows a slight increase in net members compared to last year in August, 2022. The data shows that 3210 establishments have extended EPFO’s social security cover to their employees by sending their first ECR during the month.
3.43 lakh women members are shareholders of EPFO
Gender-wise analysis of the payroll data shows that out of the total 9.26 lakh new members added during the month, about 2.44 lakh new members are women, joining EPFO for the first time. Also, the share of net women members during the month was approximately 3.43 lakh.
3210 establishments filed their first ECR
During the month, 3210 establishments have brought their employees under the ambit of the social security scheme of EPFO by submitting their first ECR (Electronic Challan cum Return). The share of youth in the age group of 18-25 years joining EPFO is 58.36 percent of the total new members. This shows that most of the first-time job seekers are joining the organized sector workforce in large numbers.
EPFO adds 16.99 lakh net members, around 9.26 lakh new members, during August 2023.
— EPFO (@socialepfo) October 20, 2023
11.88 lakh members rejoined EPFO
The data of those who got jobs on regular salary shows that about 11.88 lakh members who had gone out rejoined EPFO. This rate has increased by 10.13 percent on an annual basis. These members changed their jobs and rejoined the institutions under EPFO. Also, they chose to transfer their deposits instead of applying for final settlement.
Highest net increase in Maharashtra, Tamil Nadu, Karnataka, Gujarat and Haryana
The data also shows that there has been a steady decline in the number of members exiting EPFO in the last two months. State-wise analysis shows that Maharashtra, Tamil Nadu, Karnataka, Gujarat and Haryana saw the highest net increase. Combined, 9.96 lakh members have increased in these states in August, which is 58.64 percent of the total new members.
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