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Key Points

The latest EPFO data reveals a healthy 5.5% increase in net membership, pointing to growing formal employment. A huge majority of new subscribers are young people aged 18-25, likely starting their first jobs. The data also shows a significant number of people rejoining EPFO after changing companies. This positive trend highlights the strength of the organized job market, especially in states like Maharashtra.

Key Points: EPFO Adds 21 Lakh Members in July Led by Youth First Jobs

  • EPFO recorded a net addition of 21.04 lakh members showing 5.55% yearly growth
  • Youth aged 18-25 constituted 61% of 9.79 lakh new subscribers
  • Approximately 16.43 lakh members rejoined EPFO after switching jobs
  • Maharashtra led states by contributing over 20% of the total net payroll addition
2 min read

EPFO records 5.5 pc rise in net members at 21.04 lakh in July

EPFO data shows a 5.5% rise in net members to 21.04 lakh in July, with youth aged 18-25 dominating new enrollments, signaling strong job market growth.

"A noticeable aspect of the data is the dominance of the young 18-25 age group most of who are into their first jobs. - Official Statement"

New Delhi, Sep 23

The Employees' Provident Fund Organisation (EPFO) recorded a net addition of 21.04 lakh members in July this year which represents a 5.55 per cent increase compared to the same month of the previous year -- signifying increased employment opportunities and heightened awareness of employee benefits, according to an official statement issued on Tuesday.

EPFO enrolled around 9.79 lakh new subscribers in July this year. A noticeable aspect of the data is the dominance of the young 18-25 age group most of who are into their first jobs. EPFO added 5.98 lakh new subscribers in the 18-25 age group, constituting a significant 61.06 per cent of the total new subscribers added during the month.

Further, the net payroll addition for the age group 18-25 for July is approximately 9.13 lakh, reflecting a growth of 4.09 per cent increase over the corresponding figure for the same month of the previous year. This is in consonance with the earlier trend which indicates that most individuals joining the organised workforce are youth, primarily first-time job seekers, the statement explained.

Approximately 16.43 lakh members, who had exited earlier, rejoined EPFO in July this year. This figure displays a significant 12.12 per cent year-over-year growth compared to July 2024. These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus safeguarding long-term financial well-being and extending their social security protection.

Around 2.80 lakhs new female subscribers joined EPFO in July. Further, the net female payroll addition during the month stood at around 4.42 lakh, with a year over year growth of 0.17 per cent. The growth in female member additions is indicative of a broader shift towards a more inclusive and diverse workforce, the statement said.

State-wise analysis of the data indicates that the top five states constitute around 60.85 per cent of net payroll addition, adding a total around 12.80 lakh net payroll during the month. Of all the states, Maharashtra leads with the addition of 20.47 per cent of net payroll numbers during the month.

Maharashtra, Karnataka, Tamil Nadu, Gujarat, Haryana, Delhi, Telangana and Uttar Pradesh individually added more than 5 per cent of the total net payroll during the month, as per the official data.

- IANS

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Reader Comments

R
Rohit P
Good to see Maharashtra leading in job creation. But I wish they'd share which sectors are hiring the most. Are these IT jobs, manufacturing, or services? The data feels incomplete without industry breakdown.
A
Ananya R
The increase in female workforce participation is heartening, though 0.17% growth seems modest. We need more companies to create women-friendly workplaces. EPFO security is especially important for working women's financial independence.
V
Vikram M
As someone who recently switched jobs, I appreciate that 16.43 lakh people transferred their EPF instead of withdrawing. This shows growing financial literacy - people understand the long-term benefits. Smart move! 💡
S
Sarah B
While the numbers look positive, I'm concerned about the quality of these jobs. Are these well-paying positions with growth opportunities, or just basic entry-level roles? The devil is in the details.
K
Karthik V
Southern states performing well as usual! Karnataka, Tamil Nadu, Telangana all in top 8. This reflects the industrial development and better education systems in these regions. Other states should learn from them.

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