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EPFO Payroll Data: Employees Provident Fund Organization-Employee Provident Fund Organization has declared the payroll data for November 2024. Under this, it has been told that in November 2024, EPFO has added a total of 14.63 lakh members. This is showing an increase of 9.07 percent in the number of net members in November as compared to the previous month i.e. October 2024.
Apart from this, if compared to the payroll data of a year ago i.e. November 2023, it has come out as an increase of 4.88 percent. Through this, it can be said that an increase in employment opportunities is being seen in the country and awareness has increased among the employees about the benefits they get by joining EPFO.
What are the special things according to November payroll data-
The number of new members increased
EPFO has added 8.74 lakh members in November 2024 and if we compare the addition of new members, it is showing an increase of 16.58 percent as compared to October 2024. If compared on year-on-year basis, this number shows an increase of 18.80 percent in November 2024 as compared to November 2023.
There is a huge increase in the number of people in the age group between 18-25 years.
EPFO’s data shows that the number of members joining it is especially high in the age group of 18 to 25 years. Of the members joining EPFO in November 2024, 54.97 percent were in the age group of 18-25, which shows that they dominate the number of new members. There has been an increase of 9.56 percent in the number of members joining in the age group of 18-25 years as compared to October 2024. Apart from this, this figure has been 13.99 percent more in November 2024 as compared to the members who joined a year ago.
Number of members rejoining
Payroll data is testifying to this figure that about 14.39 lakh members had left EPFO and after that rejoined EPFO. This figure shows an increase of 11.47 percent compared to October 2024. Besides, it is also indicating an increase of 34.75 percent on annual basis.
Women participation increased in EPFO payroll data
Analyzing the payroll data on the basis of gender, it is found that out of the new members who joined EPFO in November 2024, 2.40 lakh are women. If it is compared with the data of the previous month i.e. October 2024, then it shows an increase of 14.94 percent. Apart from this, this is an increase of 23.62 percent on year on year basis.
State wise contribution in EPFO payroll data
Talking about state-wise contribution, the total contribution of top five states/union territories in EPFO data has been 59.42 percent. The contribution of these 5 states-UTs to the total number of members has been 8.69 lakh members. Among all the states, Maharashtra has been ahead in adding the maximum number of members. During November 2024, 20.86 percent of the total members are associated with EPFO from Maharashtra.
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