The formal job creation under the Employees’ Provident Fund Organisation went up marginally in September to 1.72 million compared to 1.69 million added in August this year or 1.68 million added during the same month last year, shows the provisional payroll data released by the retirement fund body on Monday.
As per the data, around 0.89 million new members have enrolled under EPFO during September, 2023, of which 58.9% new joinees were in the age-group of 18-25 years.
“This demonstrates that the majority of the members joining the organised sector workforce of the country are youth, who are mostly first-time job seekers,” the ministry of labour and employment said in a statement.
According to the payroll data, approximately 1.19 million members exited but rejoined EPFO. “These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus extending their social security protection,” it said.
Besides, the number of exits from EPFO went down by 12.17% with 0.36 million exits in September, 2023, highlighting that the number of members exiting EPFO has been declining since June, 2023.
As per the statement, gender-wise analysis of payroll data represents that out of the total 0.89 million new members added during the month, around 0.23 million are new female members joining EPFO for the first time while the net female member addition during the month stood at around 0.33 million.
State-wise analysis of payroll data denotes that net member addition is highest in Maharashtra, Tamil Nadu, Karnataka, Gujarat and Haryana. “These states constitute around 57.42% of net member addition, adding a total of 0.98 million members during the month. Of all the states, Maharashtra contributed 20.42% of net members during the month.
The payroll data further shows significant growth in the members working in establishments engaged in the sugar industry, courier services, iron and steel, hospitals, travel agencies etc.
“Of the total net membership, around 41.46% addition is from expert services (consisting of manpower suppliers, normal contractors, security services, miscellaneous activities etc.).” it said.
“The above payroll data is provisional since the data generation is a continuous exercise, as updating employee records is a continuous process,” it added.
EPFO has been releasing payroll data From the month of April-2018, covering the period September, 2017 onwards. In monthly payroll data, the count of members joining EPFO for the first time through Aadhaar validated Universal Account Number (UAN), existing members exiting from coverage of EPFO and those who exited but re-joining as members, is taken to arrive at net monthly payroll.