EPFO enrolled 9.85 lakh new members during May 2024

Employees' Provident Fund Organisation (EPFO) has added 19.50 lakh net members in the month of May 2024. The addition during the month is the highest since the first payroll data was issued in April 2018. Further, the year-over-year analysis shows a growth of 19.62% in net member additions compared to May 2023. This surge in membership can be attributed to numerous factors, including increased employment opportunities, a growing awareness of employee benefits, and the effectiveness of EPFO's outreach programs.