The Employees’ Provident Fund Organisation (EPFO) released its payroll data on Monday, 20 May. The data revealed a net addition of 1.44 million members in March, highlighting the robust employment growth in India’s organised sector.
According to the data, approximately 7,47,000 new members were enrolled in March, among which, about 2,00,000 are women. Furthermore, a gender-wise analysis shows that the net increase in female membership for the month stood at around 2,90,000. This rise in female participation signals a positive shift towards a more inclusive and diverse workforce, the statement noted.
The data also shows a notable 56.83 per cent of all these new members being in the 18-25 age group. This demographic trend indicates that a majority of the new workforce comprises young individuals, many of whom are entering the job market for the first time, as per the official statement.
Additionally, the data revealed that about 1.18 million members exited and subsequently rejoined EPFO. These members had switched jobs and rejoined establishments covered under EPFO, choosing to transfer their accumulations rather than applying for final settlements. This trend supports long-term financial security and extends social security protection.
A month-on-month comparison of industry-wise data indicates growth in sectors such as manufacturing, marketing services, computer usage, restaurants, chartered services, fish processing, non-veg food preservation, and Beedi making, among others.
