EPFO: Employment increased in India’s organized sector in September, lakhs of people connected to Employees’ Provident Fund, know details
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EPFO: There has been an influx of jobs in the country in the month of September. Lakhs of people have got new employment in the organized sector of India. This information has been obtained from the data related to regular salaries of the Labor Ministry. According to the Employees Provident Fund Organization, a net addition of 17.21 lakh members was made in September.
According to the statement issued by the Labor Ministry, on monthly basis, a net of 21,475 new members joined EPFO in September as compared to August this year. Whereas on an annual basis, compared to September, 2022, a net of 38,262 new members were added in the same month this year.
The Labor Ministry said that about 8.92 lakh new members joined the EPFO schemes in September. Of the new members, 58.92 percent are in the age group of 18 to 25 years. This shows that among the members who are involved in the workforce, a large number are youth. Many of these are those who have got jobs for the first time.
The data of people placed on regular salary (payroll) shows that 11.93 lakh members exited but rejoined EPFO. That means he has changed his job. According to the statement, these members changed their jobs and rejoined the establishments under the purview of EPFO.
These people chose to transfer their EPF (Employees’ Provident Fund) to the new institution instead of applying for final settlement. According to the data, 3.67 lakh members exited EPFO in September. This is 12.17 percent less than the previous month. The number of members leaving EPFO is decreasing from June 2023.
The ministry said that 8.92 lakh new members joined during the month. Out of these, there are about 2.26 lakh women members, who have joined EPFO for the first time. Also, net about 3.30 lakh women are associated with EPFO. If we look at the state-wise data of ‘Payroll’, maximum members were added in Maharashtra, Tamil Nadu, Karnataka, Gujarat and Haryana.
Their share in the net number of members added is 57.42 percent. These states added 9.88 lakh members. According to the data, the number of people working in sugar industry, courier services, iron and steel, hospitals, travel agencies etc. has increased significantly. Since data generation is a continuous process. In such a situation, the records of the employees are continuously updated. Therefore, these figures are temporary.
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