The Employees’ Provident Fund Organization (EPFO) registered a net addition of 16.05 lakh members in December 2024, reflecting a steady rise in formal employment and growing awareness of employee benefits, according to the latest provisional payroll data released by the Ministry of Labour and Employment.
The data highlights a 9.69 per cent increase in net payroll additions compared to November 2024. Year-on-year, the net payroll additions have grown by 2.74 per cent from December 2023, underscoring a positive trend in employment generation.
EPFO enrolled 8.47 lakh new subscribers in December 2024, marking a 0.73 per cent increase from the same month in the previous year. The surge in new subscribers is attributed to expanding job opportunities and the organisation’s outreach initiatives.
A key highlight of the data is the dominance of the 18-25 age group, which accounted for 4.85 lakh new subscribers, constituting 57.29 per cent of the total new additions. This group’s numbers increased by 0.91 per cent from November 2024 and by 0.92 per cent from December 2023. The net payroll addition for this age group reached 6.85 lakh, reflecting a 16.91 per cent rise from the previous month, reaffirming the trend that most individuals joining the organised workforce are first-time job seekers.
The payroll data also indicates that 15.12 lakh members exited and subsequently rejoined EPFO, a 5.10 per cent rise compared to November 2024 and a 25.76 per cent jump from December 2023. These members switched jobs but opted to transfer their provident fund balances instead of withdrawing them, ensuring continued social security coverage.
In terms of gender distribution, EPFO added 2.22 lakh new female subscribers in December 2024, marking a 6.34 per cent year-on-year increase. The net female payroll addition for the month stood at 3.03 lakh, a 4.77 per cent rise compared to December 2023, indicating a more inclusive workforce.
A state-wise analysis shows that the top five states and Union Territories—Maharashtra, Karnataka, Gujarat, Haryana, and Delhi—contributed 59.84 per cent of the total net payroll additions, collectively adding 9.60 lakh members. Maharashtra led with 21.71 per cent of net payroll additions. Other major contributors included Tamil Nadu, Uttar Pradesh, and Telangana, each accounting for over 5 per cent of the total.
Industry-wise, expert services, building, and construction were the top sectors witnessing payroll growth. Expert services, which include manpower suppliers, security services, and contractors, accounted for 41.23 per cent of the total net additions.
(Inputs from ANI)