The EPFO enrolled approximately 8.47 lakh new subscribers in December 2024, a modest 0.73% increase from the same month in 2023. The majority of these new subscribers were in the 18-25 age group, which accounted for 57.29% of the new additions, reflecting the increasing participation of youth in the formal workforce.
The data also showed a notable rise in rejoined members, with 15.12 lakh individuals exiting and later rejoining the EPFO, a 5.10% increase from November 2024. This group of rejoined members opted to transfer their funds rather than opt for a final settlement, demonstrating a commitment to long-term financial security.
Female membership also saw significant growth, with 2.22 lakh new female subscribers added, marking a YoY increase of 6.34%. Additionally, the net payroll addition for women stood at 3.03 lakh, reflecting a 4.77% YoY growth, indicating a shift towards a more inclusive workforce.
Maharashtra led the state-wise contribution, accounting for 21.71% of the total net payroll additions, followed by other major contributors like Karnataka, Gujarat, Haryana, and Delhi.
The payroll data also highlighted growth in certain industries, with the expert services, building and construction, trading, and financing sectors showing significant payroll additions. Expert services contributed around 41.23% of the total net additions.
The data remains provisional, as the EPFO continues to update records and adjust previous figures monthly. Since its inception in April 2018, EPFO has consistently released payroll data from September 2017 onwards, offering insights into the formal workforce trends in India.
