Increase in EPFO Subscribers

On 20th October, 2024, the Employees' Provident Fund Organisation (EPFO) saw a net addition of 18.53 lakh members to its subscriber base in August 2024, marking a 9.07% growth compared to the same month in 2023, according to data released by the Union Labour Ministry.

A total of 9.30 lakh new members were added in August 2024, which is a slight 0.48% increase compared to August 2023, driven by heightened employment opportunities and better awareness of employee benefits.
Workers aged between 18 to 25 years made up 59.26% of the total new members, with 8.06 lakh from this age group, showing that the majority of the new members were first-time job seekers.
Approximately 13.54 lakh members exited and re-joined EPFO, reflecting a 14.03% year-on-year growth as more employees chose to transfer their accumulations upon switching jobs instead of settling their accounts.
Of the new members, around 2.53 lakh were women, contributing to a net female member addition of 3.79 lakh, indicating a shift towards a more diverse and inclusive workforce.
Maharashtra led the states by contributing 20.59% of the net new additions, while other major contributors included Karnataka, Tamil Nadu, Haryana, Delhi, Gujarat, Telangana, and Uttar Pradesh.