New Delhi: Retirement fund body EPFO added 16.26 lakh subscribers on a net basis in November 2022, which is 16.5 per cent higher compared to a year ago, the labour ministry said on Friday.
The provisional payroll data of Employees’ Provident Fund Organisation (EPFO) released on Friday by the ministry highlighted that the EPFO has added 16.26 lakh net members in the month of November 2022.
The data indicate a 25.67 per cent increase in net additions compared to the previous month in October 2022, a Labour Ministry statement
said.
Of the total 16.26 lakh members added during the month, around 8.99 lakh new members came under the ambit of EPFO for the first time thus, showing that new members joining EPFO has increased by 1.71 lakh, from 7.28 lakh in October 2022.
Among the new members, the highest enrolment is registered in the age-group of 18-21 years with 2.77 lakh members, followed by age-group of 22-25 years with 2.32 lakh
members.
The age group of 18-25 years constitutes 56.60 per cent of the total of new members during the month. This shows that first-time job seekers are largely joining the organised sector workforce of the
country. The data also highlighted that approximately 11.21 lakh members re-joined EPFO membership.