The Employees' Provident Fund Organisation (EPFO) reported adding 10.25 lakh net new members in June 2024, with a total net addition of 19.29 lakh members for the month. This marked a 4.08% increase from May 2024 and a 1.05% rise compared to June 2023. The 18-25 age group constituted 59.14% of the new additions, reflecting increased employment opportunities and effective EPFO outreach. Around 14.15 lakh members rejoined after a job change, showing an 11.79% year-over-year growth. Female membership also grew, with 2.98 lakh new female members, a 5.88% increase from June 2023, and a net addition of 4.28 lakh female members, up 8.91%. Maharashtra, Karnataka, Tamil Nadu, Gujarat, and Haryana led in net member additions, contributing 61.16% of the total. Significant membership growth occurred in industries such as education, finance, and expert services, which accounted for 40.70% of the net additions. |
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