10.25 lakh new members enrolled with EPFO during June 2024
As per the provisional data released today, EPFO has added 19.29 lakh net members in the month of June 2024, showing a growth of 7.86% in net member additions compared to June 2023. The data indicates that around 10.25 lakh new members have enrolled during June 2024, registering an increase of 4.08% in the new members from the previous month of May 2024 and 1.05% increase from the previous year June 2023.The 18-25 age group constituted a significant 59.14% of the total new members added in June 2024.
The payroll data highlights that approximately 14.15 lakh members exited and subsequently rejoined EPFO. This figure depicts year over year growth of 11.79% compared to June 2023.
Gender-wise analysis of payroll data unveils that out of new members added during the month, around 2.98 lakh are new female members. This figure exhibits year over year growth of 5.88% compared to June 2023. Also, the net female member addition during the month stood at around 4.28 lakh reflecting year over year growth of 8.91% compared to June 2023. The surge in female member additions is indicative of a broader shift towards a more inclusive and diverse workforce.
State-wise analysis of payroll data denotes that net member addition is highest in the five states/ UTs of Maharashtra, Karnataka, Tamil Nadu, Gujarat, and Haryana. These states constitute around 61.16% of net member addition, adding a total of 11.8 lakh net members during the month. Of all the states, Maharashtra is leading by adding 21.09% of net members during the month.
Month-on-month comparison of industry-wise data displays significant growth in the members working in establishments engaged in the industries like university, college, financing establishment, general insurance, societies clubs or associations, electronic media companies in private sector etc. Of the total net membership, around 40.70% addition is from expert services (consisting of manpower suppliers, normal contractors, security services, miscellaneous activities etc.).
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