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EPFO sees record enrolment in April, highest net adds since 2018
The Business Guardian
|June 22, 2024
The Employees' Provident Fund Organisation (EPFO) has announced a significant milestone, adding 18.92 lakh net members in April 2024, marking the highest monthly increase since the first payroll data release in April 2018.
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This record-setting addition underscores a robust expansion in employment and social security coverage in India.
According to the official statement, approximately 8.87 lakh new members enrolled in April 2024. A notable demographic within this new membership is the youth segment, particularly those aged 18-25, who accounted for over 55 percent of the new additions. This trend highlights increased participation from young individuals and first-time entrants into the workforce, reflecting a positive shift towards a younger, more dynamic labour market.
Women constituted a significant portion of the new enrolees, with around 2.49 lakh women joining the EPFO in April 2024.
This represents a broader movement towards a more inclusive and diverse workforce, showcasing efforts to bridge gender gaps in employment.
This story is from the June 22, 2024 edition of The Business Guardian.
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