Thu Dec 26 04:25:57 UTC 2024: ## EPFO Sees Surge in New Members in October 2024
**New Delhi, December 26, 2024** – The Employees’ Provident Fund Organisation (EPFO) reported a significant increase in new members during October 2024, adding 13.41 lakh net new members, according to provisional payroll data released Wednesday by the Labour Ministry. This represents a substantial boost in employment and highlights growing awareness of employee benefits, attributed to the EPFO’s outreach programs.
The data reveals that approximately 7.50 lakh new members enrolled in October. A striking 58.49% of these new members, or 5.43 lakh, fell within the 18-25 age group, aligning with previous trends showing a high proportion of young, first-time job seekers entering the organized workforce. Furthermore, 12.90 lakh members exited and rejoined EPFO, signifying a 16.23% year-on-year increase compared to October 2023. This highlights job switching within the EPFO’s coverage.
A notable increase was also seen in female membership. Around 2.09 lakh new female members joined, representing a 2.12% year-on-year growth. The total net female member addition for the month reached approximately 2.79 lakh.
State-wise, Maharashtra led with 22.18% of the net member additions. The top five states/UTs (Maharashtra, Karnataka, Tamil Nadu, Delhi, Haryana, Telangana, and Gujarat) collectively accounted for 61.32% of the total net additions. Industry-wise, significant growth was observed in sectors such as road motor transport, electronic media, and private sector banks. Expert services (including manpower suppliers and security services) contributed to around 42.29% of the total net membership increase.
The EPFO emphasizes that this data is provisional, subject to further updates as employee records are continuously being refined. The organization has been releasing monthly payroll data since April 2018, covering the period from September 2017 onwards.
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