According to media sources, Employees’ Provident Fund Organisation (EPFO) has recorded the all-time highest addition of around 20 lakh net members in July this year, registering a growth of 2.43 percent in comparison to the same month of the last year.
Labour and Employment Minister Dr. Mansukh Mandaviya said this while releasing EPFO’s provisional payroll data of July in New Delhi yesterday. He said that it is the highest recorded increase since payroll data tracking began in April 2018. The data indicates that around 10.52 lakh new members have enrolled during June this year. The highest growth was observed in the 18-25 age group, with around 9 lakh net additions.
The payroll data also highlights that approximately 14.65 lakh members exited and subsequently rejoined EPFO. This figure depicts year over year growth of 15.25 per cent compared to June last year. More than three lakh new female members joined EPFO in July this year, reflecting a year-over-year growth of 10.94 per cent. The data also indicated that the states of Maharashtra, Karnataka, Tamil Nadu, Haryana and Gujarat accounted for around 60 percent of total net additions.
News & Image Source: newsonair.gov.in
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