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The Employees Provident Fund Organisation (EPFO), on Tuesday, said it has added 17.20 lakh net members in April 2023 as compared to 13.40 lakh during March 2023. In April 2023, there has also been a year-on-year increase in net payroll addition, official data showed.
Out of 17.20 lakh members added during the month, around 8.47 lakh new members have come under social security coverage of EPFO for the first time. Among the newly joined members, the age-group of 18-25 years constitutes 54.15% of total new members added during the month. The age-group of 18-25 years indicates that majority of the members joining organised sector workforce of the country are mostly first-time job seekers.
Also read: Everything you need to know about the new EPFO guidelines
The data also show increasing number of re-joinees as 12.50 lakh members exited but rejoined EPFO in comparison to 10.09 lakh in March 2023. These are the members who would have switched their jobs and re-joined the establishments covered under EPFO and opted to transfer their accumulations instead of applying for final settlement thus, extending their social security protection.
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