EPFO adds 18.81 lakh net members in September

The Employees' Provident Fund Organisation (EPFO) has reported an increase in its membership base during September 2024. A net addition of 18.81 lakh members was recorded, marking a 9.33% year-on-year growth. This can be attributed to several factors, including growing employment opportunities, increased awareness of employee benefits, and EPFO's effective outreach initiatives.

A closer look at the data reveals that EPFO enrolled 9.47 lakh new members in September 2024, signifying a 6.22% increase compared to the previous year. The 18-25 age group accounted for 59.95% of the total new members. Approximately 14.10 lakh members exited and subsequently rejoined EPFO. This figure depicts year-over-year growth of 18.19% compared to September 2023.

The number of women joining EPFO increased by 9.11% year-on-year. State-wise, Maharashtra led the way in terms of net member addition, followed by Karnataka, Tamil Nadu, Delhi, and Haryana. Industry-wise, expert services, trading, and engineering sectors witnessed significant growth in membership.