New Delhi. Jobs in the organized sector have increased in the country. The Employees Provident Fund Organization (EPFO) has added a net 19.29 lakh members in June. The Labor Ministry gave this information on Tuesday. Based on the analysis of the data, the net members added have increased by 7.86 percent compared to June last year. The ministry said that there are many reasons for the increase in the number of members joining EPFO. This includes increased employment opportunities, increasing awareness about employee benefits and promotional programs of EPFO.
Data shows that about 10.25 lakh new members were added during June 2024. This is 4.08 percent more than the new members added in May and 1.05 percent more than June last year. According to the data, youth in the age group of 18-25 dominated it. This is 59.14 percent of the total new members added in June. This is in line with the earlier trend. Which shows that most of the youth joining the organized workforce are young. Especially these are the people who have got a job for the first time. Data on regular payroll employees shows that about 14.15 lakh members left EPFO and later rejoined it.
This figure is 11.79 percent higher on an annual basis as compared to June 2023. These are the members who changed their job and chose to transfer the provident fund to their new institution instead of withdrawing it. Analysis of the data on the basis of gender shows that about 2.98 lakh of the new members added during the month are women. This figure is 5.88 percent more than in June last year. Also, 4.28 lakh net female members were added in the month under review. This is 8.91 percent more on an annual basis. State-wise analysis of payroll data shows that the net increase in members is highest in Maharashtra, Karnataka, Tamil Nadu, Gujarat and Haryana. These states contribute about 61.16 percent to the net increase in members.
