Formal job creation net creation net work under EPFO will rise 4% to 1.6 million in February
Temporary salary data shows that 740,000 new subscribers were recruited in February.
“This increase in new subscribers may be attributed to growing employment opportunities, increased awareness of employee benefits and the successful outreach program of EPFO,” the ministry said in a statement.
Data shows that 57.7% of new subscriptions (or 4.43 million) are between the ages of 18 and 25, continuing the trend of first-time job seekers entering the organized workforce.
In addition, about 1.3 million people rejoined the EPFO in February, an increase of 11.9% year-on-year. The ministry noted that the employees changed jobs but chose to transfer their existing EPFO accounts rather than withdrawing their savings.
Women’s participation has also increased, with net salary increasing by about 300,000, up 9.2% from February 2024. The increase in women shows that the ministry said Maharashtra, Tamil Nadu, Tamil Nadu, Karnataka, gujjarat and haryana and haryana and haryana and haryana and haryana and haryana and haryana and haryana and haryana and haryana and haryana and haryana and haryana and haryana and haryana are added wider shifts.
