Close to 10 lakh join EPFO for first time, 58% in 18-25 age group
- IBEF
- October 25, 2022
According to official figures, the Employees Provident Fund Organisation added 16.9 lakh subscribers in August this year, a 14.4% increase over the same month last year. Approximately 9.9 lakh of them joined the EPFO for the first time. According to the data, almost 5.7 lakh or 58.3% of the new entrants were between the ages of 18 and 25, representing the biggest addition in this sector during the current fiscal year.
High increase in this category was also witnessed in July of this year, when around 10.6 lakh of the 18.2 lakh net additions to EPFO came under this cover for the first time, with 57.7% of the additions being in the 18-25 age range. At the start of the 'Rozgar Mela', Prime Minister Mr. Narendra Modi quoted EPFO data to underline that the government's employment policies have been helpful and are resulting in more people joining the official sector.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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