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The Employees Provident Fund Organisation (EPFO) witnessed a surge in new members, with a remarkable addition of 15.5 lakh net members in February. Among these, nearly 7.8 lakh are fresh entrants, marking a significant influx into the organised workforce.

Youthful Influx: A Dominant Trend

An intriguing aspect of the data is the dominance of the 18-25 age group, comprising a staggering 56.4 per cent of the total new members added in February.

Job Mobility and Continuity

The payroll data sheds light on approximately 11.8 lakh members who exited and subsequently rejoined EPFO, illustrating job mobility trends. These individuals opted for seamless transitions between establishments covered under EPFO, safeguarding their long-term financial stability.

Gender Inclusivity on the Rise

In a positive shift towards inclusivity, gender-wise analysis reveals over 2 lakh new female members among the 7.8 lakh fresh entrants. This reflects a broader movement towards a more diverse and inclusive workforce, with the net female member addition exceeding 3 lakh.

Industry-wise Growth Dynamics

Month-on-month comparison of industry-wise data showcases growth across various sectors, including manufacturing, computer services, automobile servicing, and textiles. Notably, around 41.5 per cent of the total net membership addition stems from expert services, encompassing diverse activities such as manpower supply and security services.

Provisional Data and Continuous Monitoring

It's crucial to note that the payroll data provided is provisional, as the process of data generation and employee record updating is ongoing. EPFO has been diligently releasing monthly payroll data since April 2018, covering the period from September 2017 onwards. This data encompasses first-time entrants through Aadhaar validated Universal Account Numbers (UAN), as well as existing members exiting and re-joining the EPFO fold.

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