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EPFO adds 18.53 lakh net members during August 2024
Oct-21-2024

The Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional payroll data’ report has showed that 18.53 lakh net members have been added in the month of August  2024, a 9.07% year-on-year growth compared to August 2023, signifying increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO’s effective outreach initiatives.

According to the data report, EPFO enrolled around 9.30 lakh new members in August 2024, representing an increase of 0.48% in the new members from the previous year in August 2023. This surge in new memberships can be attributed to growing employment opportunities, increased awareness of employee benefits and EPFO 's successful outreach programs.

The payroll data further highlighted that approximately 13.54 lakh members exited and subsequently rejoined EPFO. This figure depicts year-over-year growth of 14.03% compared to August 2023. These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus, safeguarding long-term financial well-being and extending their social security protection.

State-wise, net member addition in the top five states/ UTs constitutes around 59.17% of net member addition, adding a total around 10.97 lakh net members during the month. Of all the states, Maharashtra is leading by adding 20.59% of net members during the month. The states/UTs of Maharashtra, Karnataka, Tamil Nadu, Haryana, Delhi, Gujarat, Telangana and Uttar Pradesh individually added more than 5% of the total net members during the month.


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