EPFO Reports Net Increase of 17.89 Lakh Members in January
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Synopsis
The EPFO has reported a net addition of 17.89 lakh members in January, marking significant year-on-year growth in payroll additions, especially among the youth and female workforce, highlighting increased employment opportunities and awareness.
Key Takeaways
- Net addition of 17.89 lakh members in January.
- 11.67 percent growth in year-on-year payroll additions.
- Majority of new subscribers are aged 18-25.
- 2.17 lakh new female subscribers added.
- Significant growth in female member representation.
New Delhi, March 20 (NationPress) The Employees' Provident Fund Organisation (EPFO) revealed on Thursday a net increase of 17.89 lakh members in January of this year, marking a rise of 11.48 percent compared to the same month in December 2024.
Year-over-year analysis indicates a growth of 11.67 percent in net payroll additions when juxtaposed with January 2024, showcasing enhanced employment prospects and greater awareness of employee benefits, strengthened by the EPFO's effective outreach efforts, as per an official statement.
In January, the EPFO registered about 8.23 lakh new subscribers, reflecting a 1.87 percent increase from the equivalent month last year.
Notably, the data underscores the prevalence of the 18-25 age demographic. A total of 4.70 lakh new subscribers were welcomed from this youthful category, comprising 57.07 percent of all fresh subscribers in January 2025. The influx of new subscribers aged 18-25 indicates a 3.07 percent growth when compared to the same period last year.
Additionally, the net payroll addition for those aged 18-25 for January 2025 stands at approximately 7.27 lakh, reflecting a 6.19 percent increase from December 2024 and an 8.15 percent rise from January 2024. This aligns with previous trends indicating that the majority of new entrants into the organized workforce are young, primarily first-time job seekers.
A gender-specific analysis of payroll data reveals that out of the total new subscribers, approximately 2.17 lakhs are new female subscribers, demonstrating a notable year-over-year growth of 6.01 percent compared to January 2024.
Moreover, the net female payroll addition for the month was around 3.44 lakh, showing a 13.48 percent increase from December 2024 and a significant year-over-year growth of 13.58 percent from January 2024. The rise in female member additions signifies a broader transition towards a more inclusive and diverse workforce, as stated.
