EPFO adds 18.92 lakh members: Why investing in EPF matters more than ever
According to the provisional payroll data released by the Employees' Provident Fund Organisation (EPFO) in June 2024, April 2024 saw 8.87 lakh new members registering. This surge indicates a notable rise in membership compared to earlier months, suggesting a positive trend in job opportunities.
There was a 23% rise in the number of members who left and subsequently re-entered the EPFO, indicating heightened job mobility as members secure their long-term financial stability, reported The Statesman
If you're new to seeking high-interest investment opportunities with minimal market risk, directing a portion of your earnings into Employees Provident Fund (EPF) accounts can build a substantial corpus over time. The EPFO plays a crucial role in securing long-term financial stability for employees in India through:
Here are some supplementary advantages provided by the EPFO that enhance long-term financial stability:
In summary, the EPFO establishes a robust social security framework that secures the financial future of employees post-retirement. It encourages disciplined saving, offers competitive returns, and includes additional benefits such as pensions and insurance coverage.
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