EPFO: 16.02 lakh members joined EPFO in January, Details here

This EPFO payroll data is provisional as data generation and updating employee records is an ongoing process. Therefore the previous data is updated every month. According to the data, out of 8.08 lakh new members added in January, about 2.05 lakh members are women. Since April 2018, EPFO has been releasing payroll data covering the period from September 2017 onwards

The Employees Provident Fund Organization (EPFO), which manages the retirement fund of organized sector employees, added a net of 16.02 lakh members (Members/Subscribers) in January 2024. This information was received from the payroll data released on Sunday, March 24. The Labor Ministry said in a statement that in January 2024, there were about 8.08 lakh members who have enrolled with EPFO for the first time. The ministry said that according to the provisional payroll data of the Employees Provident Fund Organisation, EPFO has added 16.02 lakh members on a net basis in January 2024.

According to statistics, most of these members are in the age group of 18-25. Their number is 56.41 percent of the total new members added in January 2024. This shows that most of the individuals joining the organized workforce are young. These are mainly people doing jobs for the first time.

12.17 lakh members rejoined EPFO

Payroll data shows that around 12.17 lakh members, who had exited from EPFO schemes, have rejoined EPFO. These members changed their jobs and rejoined the establishments covered under the Employees’ Provident Fund Organisation. Such employees chose to transfer their funds. According to the data, out of 8.08 lakh new members added in January, about 2.05 lakh members are women. The total number of women members joined in January was approximately 3.03 lakh.

This payroll data released is provisional as data generation and updating employee records is an ongoing process. Therefore the previous data is updated every month. Since April 2018, the Employees’ Provident Fund Organization has been releasing payroll data covering the period from September 2017 onwards.

Also Read- 

• FD Rate Hike: These three banks increased interest on FD in March, know latest rates here
  
• FASTag KYC Deadline: Complete this work related to FASTag KYC in 8 days, otherwise there will be difficulty on toll.
  
• ITR Filing: How much income tax exemption do home loan takers get, check the complete list of deductions