EPFO Membership Surge: 16.05 Lakh New Members Signal Robust Job Market Growth

The Employees' Provident Fund Organisation (EPFO) saw a strong rise in membership, adding 16.05 lakh net members in December 2024. This is a 9.69% increase from November and a 2.74% year-on-year increase. The increase is driven by growing job opportunities and growing awareness of the benefits of employees. Interestingly, 57.29% of new subscribers belonged to the age group 18-25, indicating youth inclusion in the organized workforce. Maharashtra contributed the highest state-wise at 21.71%. The services sector expert had the lion's share with 41.23% of the new additions. The women's membership also recorded significant increase, with 2.22 lakh new female members, pointing to a diversification of the workforce

 

Sources: CNBC TV18, The Tribune, UNI India