EPFO adds 13.41L net members as employment rises

New Delhi: The Employees' Provident Fund Organisation (EPFO) has made a net addition of 13.41 lakh members during October, reflecting the increased employment and higher awareness of employee benefits among workers, according to a statement issued by the Ministry of Labour and Employment on Wednesday.

The EPFO enrolled around 7.50 lakh new members in October out of which a significant 58.49 per cent were in the young 18-25 age group. The net number for this dominant age group is 5.43 lakhs.

This is in consonance with the earlier trend which indicates that most individuals joining the organized workforce are youth, primarily first-time job seekers, indicating the increasing employment opportunities in the economy.