EPFO Adds 15.48 Lakh Net Members During February 2024

EPFO Provides 15.48 Lakh Internet Members Throughout February 2024

7.78 lakh new members enrolled with EPFO throughout February 2024.

EPFO, payroll data, job seekers, jobs, workforce, employees, employer, Aadhaar, Universal Account Number, UAN
(Picture: EPFO)

EPFO’s Knowledge: EPFO’s provisional payroll knowledge launched on 20 April, 2024 highlights that EPFO has added 15.48 lakh web members within the month of February 2024.

The information signifies that round 7.78 lakh new members have been enrolled throughout February, 2024. A noticeable side of the info is the dominance of the 18-25 age group, constituting a big 56.36% of the whole new members added in February 2024 indicating nearly all of people becoming a member of the organized workforce are youth, primarily first-time job seekers.

The payroll knowledge highlights that roughly 11.78 lakh members exited and subsequently rejoined EPFO. These members switched their jobs and re-joined the institutions coated underneath the ambit of EPFO and opted to switch their accumulations as a substitute of making use of for last settlement thus, safeguarding long-term monetary well-being and increasing their social safety safety.

Gender-wise evaluation of payroll knowledge unveils that out of seven.78 lakh new members, round 2.05 lakh are new feminine members. Additionally, the web feminine member addition in the course of the month stood at round 3.08 lakh. The feminine member addition is indicative of a broader shift in the direction of a extra inclusive and numerous workforce.

Month-on-month comparability of industry-wise knowledge shows development within the members working in institutions engaged within the industries viz. institutions engaged in manufacture, advertising servicing & utilization of computer systems, corporations/societies/assc/golf equipment/troupes for performances, highway motor transport, vehicle servicing, Textiles and so on. Of the whole web membership, round 41.53% addition is from knowledgeable companies (consisting of manpower suppliers, regular contractors, safety companies, miscellaneous actions and so on.).

The above payroll knowledge is provisional for the reason that knowledge technology is a steady train, as updating worker document is a steady course of. The earlier knowledge therefore will get up to date each month. From the month of April-2018, EPFO has been releasing payroll knowledge masking the interval September, 2017 onwards. In month-to-month payroll knowledge, the depend of members becoming a member of EPFO for the primary time via Aadhaar validated Common Account Quantity (UAN), present members exiting from protection of EPFO and people who exited however re-joining as members, is taken to reach at web month-to-month payroll.



Rajesh

Meet Rajesh, our astute reporter dedicated to delivering daily insights into the dynamic world of business. With a keen understanding of market trends and a passion for unraveling the complexities of commerce, Rajesh brings you the latest in the business landscape.

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