Epfo Data

Fresh formal hirings decline by 10% in February, shows EPFO data

The EPFO data is considered crucial as it reflects the state of the formal labour market, and only the formal workforce enjoys social security benefits and is protected by labour laws

No change in EPF rate, 8.25% set for 2024-25: What this means for you

The EPF is a crucial retirement savings scheme for salaried employees in India.

EPFO adds 1.46 million net members in November, new additions rise 4.88%

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

PMS players breach threshold, set to have non-EPFO assets of over Rs 10 trn

PMS assets excluding EPFO and similar entities have grown 116% since FY1

EPFO subscribers may soon get ETF fillip; CBT meeting on Saturday

CBT meeting on Saturday may take a call on reinvesting 50% of its ETF redemption proceeds in equity

Fresh formal hirings fell to a four month low in August, shows EPFO data

EPFO data also showed that share in the 18-25 age group also declined slightly

Govt's big job plan: Labour ministry to announce new employment schemes

The labour ministry is expediting discussions with various stakeholders about employment-linked incentive (ELI) schemes

Companies raise concerns over subsidy refund in proposed ELI scheme

Companies oppose the requirement for employers to refund subsidies if employees leave within 12 months

June sees rise in female workforce participation amid 1.92 mn new EPFO jobs

Around 59.14% of new members in June 2024 were aged 18-25, reflecting an ongoing trend where the majority of individuals entering the organised workforce are young, mostly first-time job seekers

Fresh formal hirings face marginal decline in June, shows EPFO data

The data is signalling a slowdown in the formal labour market

Youth hirings in formal sector witness upswing in April-May: EPFO data

EPFO data says women subscribers also rose after falling last year

EPFO gross new members addition dips 4% to 10.9 mn in 2023-24: Mospi report

Retirement fund body EPFO's gross new subscribers addition declined by over 4 per cent to 1.09 crore in 2023-24 compared to a year ago, as per a report by Ministry of Statistics & Programme Implementation (MoSPI). According to the report 'Payroll Reporting in India: An Employment Perspective January to April, 2024', the Employees' Provident Fund Organisation (EPFO) recorded 1,09,93,119 gross addition of new members in 2023-24 compared to 1,14,98,453 in 2022-23. The gross addition of new members was affected due to the pandemic and declined from 1,10,40,683 in 2019-20 to 85,48,898 in 2020-21. It bounced back to 1,08,65,063 in 2021-22. The Centre as well as states had imposed lockdown restriction in 2020 and 2021 to curb the spread of deadly coronavirus in the country, which had hit economic activities as well as employment. The data shows that in the last five fiscal years till 2023-24, the gross new members addition by EFPO had not recovered to pre-covid level of 2018-19. The ...

Fresh formal hiring at seven-month high in April, shows EPFO data

Earlier, in Sept 2023, 950,527 fresh formal employees had joined EPF. The EPFO data is considered crucial as only the formal workforce enjoys social security benefits and is protected by labour laws

EPFO enrolls 1.9 million net members in April, increase of 31% from March

The data indicates that around 887,000 new members enrolled in April 2024

EPFO 'actively' evaluating options in response to Karnataka HC judgement

The Karnataka High Court had struck down the inclusion of international workers in the EPF, deeming it "unconstitutional and arbitrary"

Fresh formal job creation slows down in January, shows EPFO data

In January last year, 830,047 subscribers joined the EPF. This data is crucial as only the formal workforce enjoys social security benefits and is protected by labour laws

EPFO data breach in 2018 linked to Chinese cyber agency, probe reveals

When news of the purported breach initially surfaced in 2018, the EPFO denied that its systems were compromised

Fresh formal jobs creation falls 10% to 9.06 mn in 2023: EPFO data

Furthermore, the number of new women subscribers declined by about 12 per cent to 2.35 million from 2.68 million last year

Higher EPS pension: Revised FAQs on arrears, increased contribution

FAQs clarify that higher pension application will not be rejected even where such permission is not obtained by the employee

Pre-empt disputes between nominee, legal heirs by drafting a will

A nominee's job is only to hold a deceased's asset temporarily until the legal heirs claim it