EPFO Adds 14.63 Lakh Net Members: Here Are the Details
"EPFO adds 14.63 lakh net members in November 2024, showcasing a 9.07% growth from October and 4.88% YoY increase, highlighting rising employment and workforce inclusivity."
New Delhi: The Employees’ Provident Fund Organisation (EPFO) recorded a significant net addition of 14.63 lakh members in November 2024, marking a 9.07% increase compared to October 2024 and a 4.88% year-on-year growth from November 2023.
The figures highlight the growing employment landscape and rising awareness of employee benefits.
Table of Contents
Surge in New Memberships
In November 2024, EPFO enrolled 8.74 lakh new members, a rise of 16.58% from October 2024 and 18.8% year-over-year from November 2023. This uptick is attributed to increased employment opportunities, heightened awareness of benefits, and successful outreach initiatives.
Age Group Dominance
The 18-25 age group led new memberships, contributing 4.81 lakh members (54.97% of the total). This reflects a 9.56% month-on-month increase and 13.99% year-on-year growth. Net payroll data for this group shows 5.86 lakh additions, an increase of 7.96% over October 2024, reinforcing the trend of youth entering the organized workforce as first-time job seekers.
Gender-Wise Insights
Out of the new members added in November 2024, 2.40 lakh were female, showing a 14.94% rise from October 2024 and a 23.62% year-over-year increase. Net female member additions stood at 3.13 lakh, reflecting a 12.16% month-on-month growth and an 11.75% rise from November 2023. This points to increasing inclusivity in the workforce.
Rejoining and Transfers
Approximately 14.39 lakh members exited and rejoined EPFO during November 2024, marking an 11.47% increase compared to October 2024 and a significant 34.75% year-on-year growth. These members opted to transfer their EPFO accumulations rather than withdrawing them, ensuring long-term financial security and extended social protection.
State-Wise Contribution
The top five states—Maharashtra, Karnataka, Tamil Nadu, Haryana, and Gujarat—accounted for 59.42% of the net member additions, totaling 8.69 lakh. Maharashtra led with 20.86% of the net additions. Other states, including Delhi, Telangana, and Uttar Pradesh, also added over 5% of the total net members.
Industry-Wise Growth
Industries such as “societies, clubs, or associations,” textiles, engineering, garments, and electrical or mechanical engineering witnessed notable member growth. Expert services, including manpower suppliers, security services, and contractors, contributed 38.98% of total net additions.
Related Article | EPFO Streamlines Fund Transfer and Personal Detail Correction Processes for Subscribers
Provisional Data
The EPFO emphasized that the payroll data is provisional due to ongoing updates and employee record revisions. These figures are part of a continuous process of ensuring accuracy and monitoring employment trends.
The November 2024 data underscores positive employment trends, reflecting EPFO’s role in bolstering financial security and fostering an inclusive workforce.
