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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Net formal job creation under EPFO up 11.6% in January at 1.78 million: Payroll data
Net formal job creation under the Employees’ Provident Fund Organisation (EPFO) went up by 11.6% in January 2025 to 1.78 million compared to 1.62 million added in January 2024, government data shows.
As per the provisional EPFO payroll data, released by the ministry of labour and employment on Thursday, January 2025 witnessed a month-on-month increase of 11.4% compared to 1.60 million formal jobs created in December 2024.
Net new subscribers added to EPFO stood at 1.28 million in April, 1.35 million in May, 1.39 million in June, 1.61 million in July, 1.58 million in August, 1.88 million in September, 1.34 million in October and 1.46 million in November 2024.
As per the data, around 0.82 million new members enrolled during January 2025, an increase of 1.87% compared to January 2024 when 0.80 million new members were added to EPFO.
“This addition in new memberships can be attributed to growing employment opportunities, increased awareness of employee benefits, and EPFO’s successful outreach programs.,” the ministry said in a statement.
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Further, 57.1% of the new members or 0.47 million added in January this year were in the 18-25 age group. This is 3.07% more when compared to January 2024, it said.
In addition, the net payroll addition for the age group 18-25 years for January 2025 is approximately 0.73 million reflecting an increase of 6.19% compared to the previous month of December 2024 and a growth of 8.15% from the previous year in January 2024.
“This is in consonance with the earlier trend
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