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NEW DELHI New Delhi: The Ministry of Labor and Employment on Wednesday said the Employees' Provident Fund Organization (EPFO) has recorded a net addition of 18.81 lakh members during September this year, an increase of 9.33 per cent compared to the same month last year. Shows. This reflects the increase in employment opportunities and increasing awareness about employee benefits, bolstered by effective outreach initiatives of EPFO.

Data shows that there has been a sharp increase in the number of youth getting jobs for the first time and there has also been a significant increase in the number of women workers. There will be 9.47 lakh new members in September 2024, which is 6.22 lakh compared to the same figure in September 2023. Shows percentage increase. The statement said this surge in new membership is due to increasing employment opportunities in the organized sector of the Indian economy.

A notable aspect of the data is the dominance of the 18-25 age group, which accounts for a significant 59.95 per cent of the total new members added in September 2024. Furthermore, the net payroll data for the 18-25 age group for September 2024 is 8.36 lakh, showing a year-on-year growth of 9.14 per cent compared to the September 2023 data. The statement said this is in line with earlier trends showing that the majority of individuals joining the organized workforce are young, primarily first-time job seekers.

The payroll data highlights that around 14.10 lakh members exited EPFO ​​and later rejoined. This figure represents a year-on-year increase of 18.19 percent compared to September 2023. These members changed their jobs and re-joined the establishments covered under the EPFO ​​ambit and opted to transfer their accumulations instead of applying for final settlement, thus protecting long-term financial well-being and enhancing their social Expanded security protection.