EPFO Members: Employees’ Provident Fund Organization (EPFO) has added 16.29 lakh subscribers during November, 2022. Compared to this period a year ago, there has been an increase of 16.5 percent. According to the Labor Ministry, the number of members in November was 25.67 percent more than in October. 8.99 lakh new members have been added during November, which is 1.71 lakh more than the previous month.
The number of new members is the highest during the age group of 18 to 21, which is 2.77 lakh new members. And there are 2.32 lakh members in the age group of 22-25. Members in the age group of 18-25 years are 56.60 percent of the total number. According to this data, a large number of new people in the age group of 18 to 25 years have got jobs in the private sector.
Data released under ESI scheme as well
11.21 lakh members have quit and rejoined EPFO during November. Along with this, he has also transferred his account. The Ministry of Labor has also released the Provisional Payroll of Employees State Insurance Scheme (ESI Scheme). According to this data, 18.86 lakh new employees have been added in November 2022.
18.86 lakh employees got registered
Out of the total 18.86 lakh employees added during the month, the highest registration age group was 18-25 years with 8.78 lakh employees. In November 2022, the total enrollment of women members has been 3.51 lakh. A total of 63 transgender employees have also registered under the ESI scheme in the month of November.
Explain that the Employees Provident Fund Organization is the main organization of India, which collects funds for the future of the employees and gives its benefits on retirement. Under this, a PF account is opened and contribution has to be made every month from the salary. The government gives the benefit of interest on this contribution.