New Delhi, Jan 22 (UNI) Retirement fund manager Employees' Provident Fund Organisation (EPFO) added 14.63 lakh net members during November 2024, as per provisional payroll data released on Wednesday.
"An increase of 9.07% has been registered in net member addition during the current month as compared to the previous month of October 2024," Ministry of Labour and Employment said in a press release.
The Ministry said that the increase in the number of members signifies increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO’s effective outreach initiatives.
The official data revealed EPFO enrolled around 8.74 lakh new members in November 2024, up 16.58% when compared with the previous month of October 2024.
"A noticeable aspect of the data is the dominance of the 18-25 age group, 4.81 lakh new members added in the 18-25 age group constituting a significant 54.97% of the total new members added in November 2024. New members added in the month from the 18-25 age group shows an increase of 9.56% compared with the previous month of October 2024 and a growth of 13.99% from the previous year in November 2023," the release said.
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