NEW DELHI: The Employees’ Provident Fund Organisation (EPFO) added 14.63 lakh net members in November 2024, a 4.88% increase compared to November 2023, according to the latest payroll data. This growth signifies rising employment opportunities and heightened awareness of employee benefits, supported by EPFO’s outreach efforts, the labour ministry said.
On a monthly basis, net member additions rose by 9.07% from October 2024. The EPFO also enrolled 8.74 lakh new members in November, marking an 18.80% rise from the same month last year and a 16.58% increase from October.
Youth drive membership growth
A significant portion of the new members—54.97% or 4.81 lakh—belonged to the 18-25 age group, primarily first-time job seekers. Net member additions in this age group reached 5.86 lakh, reflecting a 7.96% rise compared to October 2024.
Increased rejoining and transfers
Around 14.39 lakh members exited and rejoined EPFO in November, an 11.47% increase from October and a 34.75% rise year-on-year. These members chose to transfer their funds rather than withdraw them, ensuring long-term financial stability.
Rise in female membership
Female member additions reached 2.40 lakh in November, marking a 14.94% increase from October and a 23.62% rise year-on-year. The total net female member addition was 3.13 lakh, up 12.16% from the previous month, indicating a shift toward a more inclusive workforce.
State-wise contribution
The top five states—Maharashtra, Karnataka, Tamil Nadu, Haryana, and Gujarat—accounted for 59.42% of the net member additions, contributing a combined 8.69 lakh members. Maharashtra led with 20.86% of net member additions.
The data, though provisional, underscores a positive trend in employment and workforce inclusion, reflecting India’s economic resilience.