Team Blitz India
NEW DELHI: In a positive sign for the country’s formal jobs market, EPFO’s provisional payroll data for February 2024 showed that over 56% of the overall new members enrolled were first-time job seekers in the age group of 18-25, official data released on Saturday showed.
Overall, the Employee Provident Fund Organisation (EPFO) added 15.48 lakh net members during the month against 16 lakh in January 2024, a drop of 3.4%.
It should be noted that net monthly payroll numbers are provisional and get revised often the very next month. Due to this, new EPF subscriber numbers are perceived as more reliable than net jobs added.
The EPFO saw a 3.7% fall in new monthly subscribers’ addition in February to EPF at 7.77 lakh from 8.07 lakh in January 2024.
