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Retirement fund body EPFO added 14.58 lakh net members during March 2025, registering an on-year increase of 1.15 per cent, according to the latest payroll data released on Wednesday. The Employees' Provident Fund Organization (EPFO) enrolled around 7.54 lakh new subscribers in March 2025, representing a 2.03 per cent increase over February 2025 and 0.98 per cent year-on-year growth compared to March 2024, a labour ministry statement said. EPFO has released provisional payroll data for March 2025, revealing a net addition of 14.58 lakh members. The year-on-year analysis reveals an increase of 1.15 per cent in net payroll additions compared to March 2024, the statement said. This growth in new subscribers can be attributed to growing employment opportunities, increased awareness of employee benefits, and EPFO's successful outreach programs, it stated. As per the report, 4.45 lakh new subscribers were added in the 18-25 age group, constituting a significant 58.94 per cent of the tot
Retirement fund body EPFO has added 14.63 lakh net members in November 2024, a growth of 4.88 per cent over the same month last year, according to the latest payroll data. The growth in net member additions signifies increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO's effective outreach initiatives, a labour ministry statement said. On a monthly basis, net member additions rose by 9.07 per cent over October 2024, the ministry said. The EPFO enrolled around 8.74 lakh new members in November 2024, up by 18.80 per cent over the year-ago month and a 16.58 per cent rise against October 2024, the provisional data showed. The ministry said a noticeable aspect of the data is the dominance of the 18-25 age group, with 4.81 lakh new members added in this age group constituting a significant 54.97 per cent of the total new members added in November 2024. Net member additions in the age group of 18-25 years are approximately 5.86 lakh for Nove
Retirement fund body EPFO recorded a net addition of 17.21 lakh members in September, according to payroll data released on Monday. Month-on-month comparison of payroll data shows an increase of 21,475 net members over August 2023, a labour ministry statement said. Year-on-year comparison of payroll data reflects an increase of 38,262 net members over September 2022. Around 8.92 lakh new members enrolled during September 2023, the ministry said. Among these newly joined members, the age group of 18-25 years constitutes 58.92 per cent of total new members added during the month. This demonstrates that a majority of the members joining the organised sector workforce of the country are youth, who are mostly first-time job seekers, it explained. Payroll data shows that approximately 11.93 lakh members exited but rejoined EPFO, it stated. These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead
Retirement fund body EPFO added 16.82 lakh new subscribers in May 2022, nearly 83 per cent more than 9.2 lakh enrolled in the year-ago month, according to official data. The provisional payroll data of EPFO released on Wednesday showed an increase of 7.62 lakh net subscribers in May 2022 as compared to the net subscription in the month of May 2021 last year, the labour ministry said in a statement. The EPFO had added 9.2 lakh net new subscribers in May 2021, it said. Out of the total 16.82 lakh subscribers added during May 2022, around 9.60 lakh new members have been covered under the ambit of EPF & MP Act, 1952 for the first time. Approximately 7.21 lakh net subscribers exited but rejoined EPFO by changing their jobs within the establishments covered by EPFO and opted to continue their membership under the EPF Scheme, by transferring their funds instead of applying for final PF withdrawal, it stated. The new enrolment during the month is higher than the monthly average recorded .