By bigbreakingwire 
Employees’ Provident Fund Organisation (EPFO) reported a net addition of 14.63 lakh members in November 2024, reflecting a 9.07% increase compared to the previous month of October. This marks a year-on-year growth of 4.88% in net member additions, highlighting both a surge in employment opportunities and growing awareness about employee benefits.
In November 2024, EPFO added around 8.74 lakh new members, which represents a 16.58% increase over the previous month. Compared to November 2023, this shows a substantial 18.8% rise in new memberships, reflecting the successful outreach efforts by EPFO and an improving job market.
A closer look at the data reveals that the 18-25 age group dominated the new member additions, accounting for 4.81 lakh members, or nearly 55% of the total. This group saw a 9.56% increase from October 2024 and a 13.99% rise from November 2023. This trend underscores that most new entrants into the workforce are young, often first-time job seekers.
The payroll data for November 2024 also indicates growth among young workers, with approximately 5.86 lakh net additions in the 18-25 age group. This is a 7.96% increase from the previous month, continuing the trend of youth entering the organized workforce in significant numbers.
A gender breakdown of the data reveals that 2.40 lakh of the new members were female, marking a 14.94% increase from October 2024 and a 23.62% rise from November 2023. Additionally, the net addition of female members stood at about 3.13 lakh, showing a 12.16% increase month-on-month and an 11.75% year-on-year growth. This reflects a positive shift towards a more inclusive workforce with greater participation from women.
In a related trend, around 14.39 lakh members exited and rejoined EPFO, a rise of 11.47% compared to October 2024, with a significant 34.75% increase from November 2023. These re-joins, often due to job changes, indicate that employees are opting to transfer their accumulations rather than seeking final settlement, thus securing their long-term financial well-being and social security benefits.
State-wise data shows that the top five states and Union Territories (UTs) contributed about 59.42% of the net member additions, with Maharashtra leading the way by adding 20.86% of the total. Other major contributors include Karnataka, Tamil Nadu, Haryana, Gujarat, Delhi, Telangana, and Uttar Pradesh.
Industry-wise analysis indicates substantial growth in certain sectors, such as “societies, clubs, or associations,” engineering services, textiles, garments, and electrical engineering. Of the total new members, around 39% came from expert services, including manpower suppliers, contractors, security services, and various other activities.
On a broader scale, India’s hiring activity witnessed a 12% growth over the past six months, with December 2024 reporting a 31% year-on-year increase in recruitment. The AI job market, in particular, grew by 42% over the last two years, with expectations of a further 14% growth in 2025. This surge is seen across 22 of the 27 sectors tracked, with industries such as consumer electronics, manufacturing, construction, and engineering seeing the most significant increases, ranging from 57% to 60%, as per Foundit report.
This data highlights a dynamic labor market in India, with notable trends in youth employment, gender inclusivity, and sector-specific growth, all underpinned by ongoing improvements in job creation and awareness of employee benefits.
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