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EPFO added 1.8 mn members in Sep as employment rose
Business Standard
|November 21, 2024
Retirement fund body EPFO recorded a 9.33 per cent growth in net member additions in September, totaling 1.88 million compared to the same month last year, according to payroll data released on Wednesday.
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The Employees' Provident Fund Organisation (EPFO) enrolled around 947,000 new members in September 2024, marking an increase of 6.22 per cent over September 2023, the labour ministry stated.
According to the statement, EPFO's provisional payroll data for September 2024 showed a net addition of 1.88 million members, reflecting a 9.33 per cent year-onyear (Y-o-Y) growth compared to September 2023. This growth signifies enhanced employment opportunities and greater awareness of employee benefits, driven by EPFO's effective initiatives.
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