New Delhi [India]: The Employees’ Provident Fund Organization (EPFO) has released provisional payroll data for December 2024, reporting a net addition of 16.05 lakh members.
According to data from the Ministry of Labour and Employment, net payroll additions saw a 9.69% increase compared to November 2024. A year-on-year analysis indicates a 2.74% growth in net payroll additions from December 2023, highlighting increased employment opportunities and greater awareness of employee benefits, aided by EPFO’s outreach initiatives.
EPFO enrolled approximately 8.47 lakh new subscribers in December 2024, reflecting a 0.73% year-on-year growth from December 2023. This rise is attributed to growing job opportunities, enhanced employee benefit awareness, and successful EPFO engagement efforts.
A key trend in the data is the dominance of the 18-25 age group, with 4.85 lakh new subscribers, accounting for 57.29% of total new subscribers. This marks a 0.91% increase compared to November 2024 and 0.92% growth from December 2023. The net payroll addition for this age group stood at 6.85 lakh, reflecting a 16.91% increase from the previous month. This trend reinforces that most new EPFO enrollees are young first-time job seekers entering the organized workforce.
Additionally, approximately 15.12 lakh members exited and rejoined EPFO in December 2024, reflecting a 5.10% rise from November 2024 and 25.76% year-on-year growth from December 2023. These members opted to transfer their provident fund accumulations instead of withdrawing them, ensuring long-term financial security and social protection.
Gender & State-Wise Insights
A gender-wise breakdown shows that 2.22 lakh new female subscribers were added in December 2024, marking a 6.34% increase from December 2023. The net female payroll addition stood at 3.03 lakh, reflecting a 4.77% year-on-year growth. This rise indicates a more inclusive and diverse workforce in India.
State-wise data reveals that the top five states/UTs accounted for 59.84% of net payroll additions, contributing approximately 9.60 lakh net payrolls in December 2024.
- Maharashtra led with 21.71% of net payroll additions, followed by Karnataka, Gujarat, Haryana, Delhi, Tamil Nadu, Uttar Pradesh, and Telangana, each contributing more than 5% of the total net payroll additions.
Industry Trends
Among industries, expert services, building, and construction sectors saw the highest payroll additions. Notably, 41.23% of the total net payroll additions came from expert services, including manpower suppliers, contract workers, security services, and other miscellaneous sectors.
The steady increase in payroll additions reflects a positive employment outlook, growing formal workforce participation, and strengthened employee benefits under the EPFO framework.