The Employees' Provident Fund Organisation (EPFO) reported a robust addition of 14.63 lakh net members during November 2024, highlighting a 4.88% increase compared to the same period last year, as outlined in the latest payroll data released by the Ministry of Labour and Employment. This upward trend, with a 9.07% rise from October 2024, signals a strengthening job market alongside heightened awareness regarding employee benefits, a direct result of EPFO's ongoing outreach initiatives Source.

Approximately 8.74 lakh new members were enrolled in November, displaying an 18.80% increase from November 2023 and a 16.58% rise from October. Notably, a significant portion—54.97% or about 4.81 lakh—of this growth came from the 18-25 age group, largely comprised of first-time job seekers. In the same demographic, 5.86 lakh net member additions were recorded, indicating a rise of 7.96% from the previous month.

The data also indicated a notable trend where approximately 14.39 lakh members exited and then rejoined EPFO in November, showcasing an 11.47% increase month-on-month and a striking 34.75% rise year-on-year. These rejoining members prefer to transfer their funds rather than take final settlements, thereby promoting long-term financial wellness Source.

Female membership has also risen significantly, with 2.40 lakh new women members noted in November—reflecting a 14.94% increase from October and a 23.62% annual jump. The total net addition of female members stood at 3.13 lakh for the month, marking a 12.16% rise compared to the previous month and indicating a considerable shift towards a more inclusive workforce.

Geographically, the five leading states—Maharashtra, Karnataka, Tamil Nadu, Haryana, and Gujarat—accounted for 59.42% of total net additions, with Maharashtra alone contributing 20.86%. This provisional data paints an optimistic picture of India’s employment landscape, reflecting resilience and growth.