North India Statesman
[ad_1]
New Delhi: The Employees Provident Fund Organization (EPFO) has pure 14.41 lakh new members in March 2024. This figure reflects employment status in the organized sector in the country. The special thing is that the largest number of these new members (56.83%) is of youth in the age group of 18 to 25, which indicates that a large number of youth working for the first time are joining the organized workforce.
According to the provisional payroll data released, around 7.47 lakh new members were enrolled under the EPFO during March 2024. The heavy participation of youth in these new members is an important aspect.
The gender analysis of the data shows that out of 7.47 lakh new members added in March, there were about 2 lakh women. Additionally, the net female member growth during the month was around 2.90 lakhs, which reflects a more inclusive and diverse work -moving trends.
Apart from this, it was also seen that there were about 11.80 lakh members who again joined it after exiting the EPFO. These are the members who re -joined their jobs and re -joined the establishments under the purview of EPFO and opted to transfer their accumulation rather than applying for final disposal. This step ensures their long -term financial good and social security coverage.
The number of members has seen an increase in areas such as manufacturing, marketing, computer services, restaurants, chartered accountant firms and fish processing in comparison to industry data.About 43% of the total net membership growth has come from expert services (such as manpower suppliers, contractors, security services etc.).
It is important to note that this payroll data is provisional, as updating the employee record is a continuous process and the previous data is updated every month. EPFO is releasing payroll data since April 2018.
Even though the title of the given original article refers to March 2025, which is the future date, available and confirmed information is related to March 2024. If new data related to March 2025 comes, this information will be updated accordingly. Currently, March 2024 figures present a positive picture of employment generation in the country, especially in the context of increasing participation of youth and women.
