EPFO Data: About 13.95 lakh people have joined the Employees' Provident Fund Organization (EPFO) in November, 2023. Of these, 7.36 lakh people are youth. Data released by EPFO ​​on Saturday has shown that the number of EPFO ​​members during the current financial year remains higher as compared to the same period last year. According to EPFO ​​data, around 7.36 lakh new members have enrolled during November, 2023. Among the newly joined members, the number of youth aged 18-25 years is the highest at 57.30 percent. This shows that the youth are getting a good number of jobs in the country. There is a demand for youth in the organized sector of the country. Most of them are doing jobs for the first time.
10.67 lakh members returned to EPFO
According to payroll data, about 10.67 lakh members exited EPFO ​​in November. But, he joined other jobs. Due to this he again joined EPFO. These members joined jobs in companies coming under the purview of EPFO. Instead of withdrawing the money, all of them chose to transfer their money. This increased their social security.
1.94 lakh new women members
Gender analysis of the payroll data shows that out of the total 7.36 lakh new members added during November, about 1.94 lakh new members are women. This is the first time she has joined EPFO. Apart from this, the total number of women members was around 2.80 lakh. Of the subscriber growth, the number of female members was 20.05 percent. This figure is the highest since September 2023. This shows that the participation of women employees in the organized sector workforce is increasing.
Most members joined from Maharashtra
State-wise analysis of the data revealed that the highest increase in members was recorded in 5 states/Union Territories – Maharashtra, Tamil Nadu, Karnataka, Haryana and Delhi. These states contribute about 58.81 percent to the total member growth. Due to this, a total of 8.20 lakh members joined during November. Among all the states, Maharashtra had the highest number of 21.60 percent new members joining EPFO ​​during this period.
Increasing members in sectors like manpower supply, security services
According to EPFO, the number of members working in agricultural farms, coffee plantations, sugar, rubber plantations, tiles etc. has also increased rapidly. About 41.94 percent of the new members are working in the expert services sector. These include sectors like manpower supply, contract, security services.
Calculation is done from Universal Account Number
EPFO data is updated every month. It is calculated through Universal Account Number (UAN). The count of members joining EPFO ​​for the first time, existing members exiting EPFO ​​coverage and members re-joining are released every month.
Read this also
ICICI Bank: ICICI Bank made a profit of Rs 10272 crore, NPA also declined
Get more latest business news updates