New Delhi, Feb 25 The Employees' Provident Fund Organisation (EPFO) registered 9.69 per cent growth (month-on-month) in net payroll addition in December 2024 at 16.05 lakh net members, the government said on Tuesday.
According to the provisional payroll data for December, the year-on-year analysis revealed a growth of 2.74 per cent in net payroll additions compared to December 2023, signifying increased employment opportunities and heightened awareness of employee benefits, bolstered by the EPFO's effective outreach initiatives.
The organisation enrolled around 8.47 lakh new subscribers in December 2024. The new subscribers’ addition shows year-on-year growth of 0.73 per cent from the previous year in December 2023.
This surge in new subscribers can be attributed to growing employment opportunities, increased awareness of employee benefits, and the EPFO's successful outreach programmes.
According to the Ministry of Labour and Employment, a noticeable aspect of the data is the dominance of the 18-25 age group.
It showed that 4.85 lakh new subscribers were added in the 18-25 age group, constituting a significant 57.29 per cent of the total new subscribers added in December 2024.
New subscribers in the 18-25 age group added in the month showed an increase of 0.91 per cent compared with the previous month of November 2024 and a growth of 0.92 per cent from the previous year in December 2023.
Further, the net payroll addition for the age group 18-25 for December 2024 is approximately 6.85 lakh -- reflecting an increase of 16.91 per cent compared to the previous month of November 2024.
This is in consonance with the earlier trend which indicates that most individuals joining the organised workforce are youth, primarily first-time job seekers, said the ministry.
Gender-wise analysis of payroll data unveiled that out of the total new subscribers added during the month, around 2.22 lakhs were new female subscribers.
“This figure exhibits significant year-over-year growth of 6.34 per cent compared to December 2023. Also, the net female payroll addition during the month stood at around 3.03 lakh reflecting a year over year growth of 4.77 per cent compared to December 2023,” said the data.
The increase in female member additions is indicative of a broader shift towards a more inclusive and diverse workforce.
Approximately 15.12 lakh members exited and subsequently rejoined the EPFO in the reported month. This figure represents a 5.10 per cent increase compared to the previous month of November.
It also depicts a significant year-over-year growth of 25.76 per cent compared to December 2023.
State-wise analysis revealed that the top five states/UTs constitute around 59.84 per cent of net payroll addition, adding a total of around 9.60 lakh net payroll during the month.
Maharashtra led by adding 21.71 per cent of net payroll during the month, showed the data.
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