1.63 million members added to EPFO in May

About 1.68 million new workers were added to the formal sector during May 2022. 

“The data indicates that around 8.83 lakh new members enrolled during May, 2023 are highest during the last six months. Among the newly joined members, the age-group of 18-25 years constitutes 56.42% of total new members added during the month,” said a statement from the Ministry of Labour and Employment. “Around 11.41 lakh members exited but rejoined EPFO who may have switched their jobs and re-joined the establishments covered under EPFO and opted to transfer their accumulations instead of applying for final settlement thus extending their social security protection,” it added.

The latest data also reveals that 3,673 establishments extended social security cover of EPFO to their employees during the month.

“State-wise analysis of payroll data highlights that in terms of net member addition, the top 5 states are Maharashtra, Tamil Nadu, Karnataka, Haryana and Gujarat,” the statement said. 

“These constitute around 57.85% of net member addition, adding a total of 9.43 lakh members during the month. Of all the states, Maharashtra is leading by adding 19.32% of net members during the month,” it added. 

On a monthly basis, the latest data  reveals significant growth (in EPFO accounts) witnessed in the establishments engaged in the building and construction industry, garments making and electronic media companies, textiles, financing establishment, and rubber products. 

“Of the total net membership, around 42.04% additions are from expert services (consisting of manpower suppliers, normal contractors, security services, miscellaneous activities etc.),” the statement said. 

“Gender-wise analysis of payroll data shows that out of total 8.83 lakh new members added during the month, around 2.21 lakh are new female members, joining EPFO for the first time. Also, the net female member addition stood at around 3.15 lakh,” it added.

Updated: 21 Jul 2023, 12:53 AM IST