New Delhi: Net formal job creation under the Employees' Provident Fund Organisation ( EPFO) rose to 1.6 million in February, marking an increase of 3.99% from February 2024, according to data released by the ministry of labour and employment on Monday.
Provisional payroll data showed 0.74 million new subscribers were enrolled in February.
"This addition of new subscribers can be attributed to growing employment opportunities, increased awareness of employee benefits, and EPFO's successful outreach programs," the ministry said in a statement.
Data shows 57.7% of new subscriptions, or 0.43 million, were aged between 18 and 25 years, continuing the trend of first-time job seekers entering the organised workforce, it added.
Additionally, about 1.3 million individuals rejoined EPFO in February, an increase of 11.9% year-on-year. These employees changed jobs but chose to transfer their existing EPFO accounts rather than withdrawing savings, the ministry noted.
Female participation also saw a boost, with net payroll additions of around 0.3 million, a growth of 9.2% from February 2024.
The growth in female additions indicates a broader shift towards a more inclusive and diverse workforce, the ministry said.
A state-wise analysis shows that Maharashtra, Tamil Nadu, Karnataka, Gujarat and Haryana added 0.96 million.
Provisional payroll data showed 0.74 million new subscribers were enrolled in February.
"This addition of new subscribers can be attributed to growing employment opportunities, increased awareness of employee benefits, and EPFO's successful outreach programs," the ministry said in a statement.
Data shows 57.7% of new subscriptions, or 0.43 million, were aged between 18 and 25 years, continuing the trend of first-time job seekers entering the organised workforce, it added.
Additionally, about 1.3 million individuals rejoined EPFO in February, an increase of 11.9% year-on-year. These employees changed jobs but chose to transfer their existing EPFO accounts rather than withdrawing savings, the ministry noted.
Female participation also saw a boost, with net payroll additions of around 0.3 million, a growth of 9.2% from February 2024.
The growth in female additions indicates a broader shift towards a more inclusive and diverse workforce, the ministry said.
A state-wise analysis shows that Maharashtra, Tamil Nadu, Karnataka, Gujarat and Haryana added 0.96 million.
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