Employee's Provident Fund Office or EPFO's provisional payroll data highlights that EPFO has added 15.62 lakh net members in the month of December, 2023 which is highest in last three months. An increase of 11.97% has been registered in net member addition during the current month as compared to the previous month of November 2023.
Further, the year on year analysis reveals a growth of 4.62% in net member additions compared to December 2022. This surge in membership can be attributed to various factors, including increased employment opportunities, a growing awareness of employee benefits, and the effectiveness of EPFO's outreach programs. The data indicates that around 8.41 lakh new members have enrolled during December, 2023 which is highest during the previous three months.
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