EPFO Provides 13.4 Lakh Members In March, 1.39 Cr In 2022-23

Retirement fund physique EPFO added 13.40 lakh members on a web foundation in March, taking the whole addition to 1.39 crore in 2022-23, in response to payroll knowledge launched on Saturday. EPFO had added a complete of 1.22 crore members on a web foundation in 2021-22. Out of 13.40 lakh members added in the course of the month of March, round 7.58 lakh new members have come beneath the ambit of EPFO for the primary time, a labour ministry assertion stated.

”In the course of the monetary yr 2022-23, round 1.39 crore web members have been added by the EPFO with a rise of 13.22 per cent in comparison with the earlier monetary yr 2021-22 whereby EPFO had added roughly 1.22 crore web members,” the assertion stated.

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Among the many newly joined members, the very best enrolment is registered within the age group of 18-21 years with 2.35 lakh members, adopted by the age group of 22-25 years with 1.94 lakh members.

The age-groups of 18-25 years represent 56.60 per cent of whole new members added in the course of the month. This age-wise comparability of payroll knowledge signifies that almost all of the members becoming a member of the organised sector workforce of the nation are first-time job seekers.

The information additionally highlights that roughly 10.09 lakh members re-joined EPFO membership. These members switched their jobs and re-joined the institutions coated beneath EPFO and opted to switch their accumulations as a substitute of making use of for last settlement thus, extending their social safety safety, it said.

Gender-wise evaluation of payroll knowledge displays that enrolment of web feminine members has been 2.57 lakh in March 2023, which is round 19.21 per cent of the online member addition for the month.

Of those, 1.91 lakh feminine members are the brand new joiners. That is round 25.16 per cent addition of all the brand new joiners.

State-wise payroll figures spotlight that month-on-month rising development in web member addition is mirrored within the states of Haryana, Uttarakhand, Uttar Pradesh, Himachal Pradesh, Jammu and Kashmir, Mizoram, and so on.

When it comes to web member addition, prime 5 states are Maharashtra, Tamil Nadu, Karnataka, Haryana and Gujarat. These states collectively represent 58.68 per cent of web member addition in the course of the month.

Of all of the states, Maharashtra is main by including 20.63 per cent of web members adopted by the state of Tamil Nadu with 10.83 per cent in the course of the month.

(This story has not been edited by News18 workers and is revealed from a syndicated information company feed – PTI)