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EPFO adds 1.4 m net members in Nov'23
Financial Express Mumbai
|January 21, 2024
RETIREMENT FUND BODY EPFO added 1.4 million net members in November 2023, as per the latest payroll data released on Saturday.
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Cumulative net addition of members during the current financial year continues to remain higher than that of the corresponding period of the previous year, a labour ministry statement said.
According to the statement, the EPFO's (Employees' Provident Fund Organisation) provisional payroll data highlighted that the body added 1.4 million net members in November.
The data indicates that around 736,000 new members were enrolled during the month.
The 18-25 age-group constitutes 57.30% of the total new members added during the month, showing that a majority of members joining the organised sector workforce of the country are youth, who are mostly first-time job seekers.
The payroll data reflects that about 1.06 million members exited but rejoined EPFO during the month.
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