Home News Business EPFO added 13.96 lakh new members in February, decline in number of people joining for the first time

EPFO added 13.96 lakh new members in February, decline in number of people joining for the first time

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EPFO added 13.96 lakh new members in February, decline in number of people joining for the first time

EPFO: A part of the salary of every employed person is deposited in the Employees Provident Fund Organisation. A record decline has been registered in the number of new members joining EPFO ​​in February. According to the data released on Thursday, a total of 13.96 subscribers have been added to EPFO ​​in the month of February. Out of this, 7.38 lakh people have become a part of it for the first time. In such a situation, in the financial year 2023, there has been a tremendous decline in the number of first-time subscribers of EPFO. It is clear from the data released by EPFO ​​that in February 2023, due to the slowdown in the economy, the process of hiring has been reduced.

10 percent decrease in new subscribers in February

According to EPFO ​​data, 7.38 lakh people joined EPFO ​​for the first time in the month of February. Whereas in January this figure was close to 8.1 lakh. In such a situation, a decline of 10 percent has been registered in the number of people joining EPFO ​​for the first time. Earlier, there was a decline in the number of new subscribers in October. At this time a total of 7.9 lakh people were connected to EPFO ​​for the first time. Significantly, this data shows how many new jobs have been created in the country’s formal sector.

Increase in the number of members of 18 to 21 years

According to the statement issued by the Labor Ministry, out of the people joining EPFO ​​for the first time, a total of 2.17 lakh people are in the age group of 18 to 21 years. At the same time, there are 1.91 lakh people between the age of 22 to 25 years who are connected to EPFO ​​for the first time. In such a situation, the number of people between the age of 18 to 25 years is 55.37 percent. In such a situation, a large number of youth have got jobs in the organized sector in February.

10.15 lakh people rejoined EPFO

At the same time, an increase has been registered in the number of people rejoining EPFO ​​in February. A total of 10.15 lakh people have rejoined EPFO ​​after changing jobs. In such a situation, an increase of 8.59 percent is being registered in the number of people joining EPFO ​​again as compared to last year.

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What is the number of women employees

Significantly, in February, the number of women employees in the country is witnessing the highest growth in the last 4 months. A total of 2.7 lakh women employees are associated with EPFO ​​in February. In such a situation, out of the total new EPFO ​​members, their number has been 19.93 percent. Out of this, a total of 1.89 women are associated with EPFO ​​for the first time.

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