New Delhi: The Employees’ Provident Fund Organisation (EPFO)has added 14.41 new members in March. The provisional payroll data released by EPFO revealed this. It was at 15.48 in February and 16 lakh in January 2024.
The data indicates that around 7.47 lakh new members have been enrolled during March out of which the 18-25 age group constitutes a dominant 56.83 per cent. Gender-wise analysis of payroll data unveils that out of 7.47 lakh new members, around 2 lakh are new female members. Also, the net female member addition during the month stood at around 2.90 lakh.
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The payroll data highlights that approximately 11.80 lakh members exited and subsequently rejoined EPFO. 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.
EPFO is the country’s principal organization responsible for providing social security benefits to the organized/semi-organized sector workforce covered under the EPF & MP Act, purview, 1952. The payroll data is provisional since the data generation is a continuous exercise, as the updation of employee records is a continuous process. The previous data hence gets updated every month.
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