EPFO adds 1.89 million net members in April

The Employees' Provident Fund Organisation (EPFO) net added 1.89 million members in April, an increase of 31.29% from the previous month, according to provisional payroll data released by the labour ministry on Thursday.

The data showed 887,000 new members, including 249,000 women, joining the EPFO during the month.

A significant portion of the new members, representing 55.50% of the total additions, were young employees between the ages of 18 and 25, according to the labour ministry.

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Additionally, the payroll data showed that around 1.45 million members had exited the EPFO in April, only to re-register with it within the same month.

"These members 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 with EPFO," the labour ministry said.

This overall surge in membership in April can be attributed to various factors, such as increased employment opportunities, a growing awareness of employee benefits, and the effectiveness of EPFO's outreach programs, the ministry added.

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Maharashtra, Karnataka, Tamil Nadu, Gujarat and Haryana were the top five states in terms of net member additions during April.

These states together enrolled about 110,000 members during the month, which constitute around 58.30% of the net additions.