EPFO logs 20 lakh internet new members in July

EPFO constructing. File photograph
| Photograph Credit score: Niranjan R. Varma

Retirement fund physique Workers Provident Fund Organisation (EPFO) recorded a internet addition of 19.94 lakh members in July this yr, the Labour Ministry mentioned on Monday (September 23, 2024).

Union Labour Minister Mansukh Mandaviya mentioned in a press convention that 10.52 lakh new or first-time staff subscribed to Social Safety schemes run by the EPFO.

The minister mentioned nearly 20 lakh internet new members addition (19.94 lakh) had been recorded in July this yr. He additionally knowledgeable that 8.77 lakh members added in July are within the age group of 18-25 years.

Almost 6.25 lakh members of ages between 18 and 25 are first-time staff or new joiners, in response to the most recent knowledge. About 59.4% of recent joiners fall throughout the 18-25 age bracket. He mentioned that the information exhibits the employment of younger folks has elevated.

He additionally knowledgeable that 4.41 lakh feminine members had been added by EPFO in July which incorporates 3.05 lakh new joinees. The minister identified that feminine employment has additionally elevated.