Key Points
Overall, the EPFO added 1.48 million net members in January 2023, which is 16.6% higher than 1.28 million net members added in December 2022..
In January, about 1.06 million members re-joined EPFO membership...
First-time entrants into the Employees Provident Fund (EPF) scheme fell to its lowest level this fiscal in January, amidst continuing layoffs in the tech sector and caution over the domestic economic outlook in the backdrop of a global slowdown...
According to the payroll data released by the EPF Organisation (EPFO) on Monday, 0.77 million first-time members joined the EPFO in January this year, which was 7.5% lower than the 0.84 million such workers that joined the scheme in December 2022..
The initial numbers are however, often revised upwards and even Januarys data may see a similar increase.. Among the newly joined members, highest enrolment is registered in the age-group of 18-21 years with 0.22 million members, followed by the age-group of 22-25 years with 0.2 million members..
