In November 2023, the number of new monthly subscribers under the Employees’ Provident Fund (EPF), an indicator of job creation, stood at 736,015, down from 772,084 in October, according to the latest monthly payroll data released by the Employees’ Provident Fund Organisation (EPFO) on Thursday. New monthly subscribers under the EPF stood at 940,000 in April, 954,000 in May, 1.07 million in June, 1.09 million in July, 977,000 in August, and 944,000 in September, according to the latest data.

The data showed an addition of 194,000 women to the organised workforce in November.

A significant portion of the new members, representing 57.3%, were young employees between the ages of 18 and 25.

Among the states, Maharashtra, Tamil Nadu, Karnataka, Haryana, and Delhi added the most to the workforce during November. Meanwhile, the EPFO added 1.39 million net members during November.

In monthly payroll data, the number of members joining EPFO for the first time through an Aadhaar-validated universal account number (UAN), existing members exiting from the coverage of EPFO and those who exited but rejoined as members add up as the net monthly payroll.

These top five states together enrolled 820,000 net members during November, making up 58.8% of net additions. Month-on-month comparison of industry-wise data revealed a significant growth in members working in agricultural farms, coffee plantations, sugar, rubber plantations and tiles sectors.

Of the total net membership, about 41.94% addition is from expert services (manpower suppliers, normal contractors, security services, and miscellaneous activities).

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Published: 25 Jan 2024, 10:26 PM IST