EPFO Achieves Record 19.50 Lakh Member Addition in May 2024

The Employees' Provident Fund Organisation (EPFO) added a record 19.50 lakh members in May 2024, driven by increased employment opportunities and effective outreach. The largest share of new members was from the 18-25 age group, while Maharashtra led with the highest net member addition among states.

The Employees' Provident Fund Organisation (EPFO) has set a new record by netting an additional 19.50 lakh members in May 2024, according to a statement from the Labour Ministry on Saturday.

This unprecedented growth in membership is the highest since payroll data was first issued in April 2018. Compared to May 2023, net member additions surged by 19.62 per cent.

The boost can be attributed to various factors, such as better employment opportunities, increased awareness of employee benefits, and effective outreach programmes by EPFO.