Tag: EPFO

New Delhi, November 12, 2024. The number of total claims settled by the retirement fund body Employees’ Provident Fund Organisation (EPFO) increased 7.8 per cent year-on-year to 4.45 crore in 2023-24 from 4.13 crore in the previous year, as per the latest data shared by the Ministry of Labour and Employment on Sunday. The number of contributing members under the EPFO have also increased 7.6 per cent to 7.37 crore in 2023-24 from 6.85 crore in the previous year, while the number of contributing establishments under the EPFO have increased by 6.6 per cent to 7.66 lakh in 2023-24 from 7.18 lakh, the data showed. The total claims of 4.45 crore settled by the EPFO includes all claims for final provident fund settlement, PF transfer, part withdrawal, pension, pension withdrawal and Employe...

New Delhi, August 20,2024. EPFO has added 19.29 lakh net members in the month of June 2024 as per the provisional data released today. Further, the year over year analysis shows a growth of 7.86% in net member additions compared to June 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. The data indicates that around 10.25 lakh new members have enrolled during June 2024. There is an increase of 4.08% in the new members from the previous month of May 2024 and 1.05% increase from the previous year June 2023. A noticeable aspect of the data is the dominance of the 18-25 age group, constituting a signific...