EPFO Data: Retirement fund body EPFO added 13.40 lakh members on a net basis in March, taking the total addition to 1.39 crore in 2022-23, according to payroll data released on Saturday.
The latest data suggested that a total of 1.22 crore members were added to the EPFO in 2021-22 on a net basis. A labor ministry statement said that out of 13.40 lakh members added during the month of March, about 7.58 lakh new members have come under the EPFO ambit for the first time.
The statement said, “During the financial year 2022-23, around 1.39 crore net members have been added by EPFO, which is 13.22 per cent higher than the previous financial year 2021-22, in which EPFO added around 1.22 crore net members.” Were.” ,
Among newly joined members, the highest enrollment is registered in the age group of 18-21 years with 2.35 lakh members, followed by 1.94 lakh members in the age group of 22-25 years.
The age group of 18-25 years constituted 56.60 per cent of the total new members added during the month. This age-wise comparison of payroll data indicates that a majority of the members joining the country’s organized sector workforce are first-time job seekers.
The data also shows that around 10.09 lakh members have rejoined the EPFO membership. These members changed their jobs and re-joined establishments covered under EPFO and opted to transfer their accumulations instead of applying for final settlement, thereby extending their social security cover.
Gender-wise analysis of payroll data reveals that net female member enrollment in March 2023 stood at 2.57 lakh, which is about 19.21 per cent of the net member addition for the month.
Of these, 1.91 lakh women members are new joining. This is about 25.16 per cent of all new entrants.
State-wise payroll data shows that month-on-month increasing trend in net member addition is reflected in the states of Haryana, Uttarakhand, Uttar Pradesh, Himachal Pradesh, Jammu & Kashmir, Mizoram etc.
In terms of net member addition, the top 5 states are Maharashtra, Tamil Nadu, Karnataka, Haryana and Gujarat. These states together constitute 58.68 per cent of the total member addition during the month.
Among all the states, Maharashtra leads the way by adding 20.63 per cent net members during the month, followed by the state of Tamil Nadu with 10.83 per cent.
(with PTI inputs)
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