EPFO Adds 16.05 Lakh Members in Dec 2024; 9.69% Growth

EPFO recorded a 9.69% rise in net members in December 2024, reaching 16.05 lakh additions. This marks steady employment growth, reflecting improved workforce participation.

[{"selector":"#anim-013ff5f7-47b9-4d7c-bb80-9c181272b08b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-66.0711292513873%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

December 2024 saw a 2.74% YoY rise in net additions. Increased awareness and employment opportunities contributed to this steady expansion in the organized workforce.

[{"selector":"#anim-f94f37c1-deb0-4e59-a9a0-3eec953dd7ab [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-21.874999829338588%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

8.47 lakh new subscribers joined EPFO in Dec 2024. The 18-25 age group dominated, comprising 57.29% of total additions, highlighting first-time job seekers' entry into the workforce.

[{"selector":"#anim-d0d41095-8183-4305-b148-bf345e7e6c53 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-52.45128117674175%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

15.12 lakh members exited and rejoined EPFO, up 5.10% from Nov. Many opted for fund transfers instead of withdrawals, ensuring long-term financial security.

[{"selector":"#anim-fd90bc2c-62e3-4782-914a-4450065d0a2b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-3.552713678800501e-15%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Female membership rose by 6.34% YoY, with 2.22 lakh new enrollments. This trend reflects growing workforce diversity and improved female workforce participation.

[{"selector":"#anim-7ecb22d9-1530-4901-8324-522b04612f55 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(21.874999829338595%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Maharashtra led with 21.71% of net additions. Expert services, construction, and commercial establishments saw the highest payroll growth in Dec 2024.

[{"selector":"#anim-11a2a6f2-cd59-457e-90d7-7084a50808ce [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.179687404002955%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Ensure compliance and secure your EPF registration with Vakilsearch. Get expert assistance today—click now to simplify your legal process!

[{"selector":"#anim-8d17791b-403b-4b9d-8934-c7851abb51f0","keyframes":[{"offset":0,"transform":"rotate(-90deg) translate3d(0, -593.36397%, 0) rotate(90deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"rotate(-90deg) translate3d(0, 0%, 0) rotate(90deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"rotate(-90deg) translate3d(0, -166.853948364%, 0) rotate(90deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"rotate(-90deg) translate3d(0, 0%, 0) rotate(90deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"rotate(-90deg) translate3d(0, -56.725595532%, 0) rotate(90deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"rotate(-90deg) translate3d(0, 0%, 0) rotate(90deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"rotate(-90deg) translate3d(0, -21.301766523%, 0) rotate(90deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"rotate(-90deg) translate3d(0, 0%, 0) rotate(90deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"rotate(-90deg) translate3d(0, -9.256477932%, 0) rotate(90deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"rotate(-90deg) translate3d(0, 0%, 0) rotate(90deg)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":600,"fill":"both"}] Arrow