EPFO net October member additions at 1.53 million
Live MintNew Delhi: The Employees' Provident Fund Organisation net added 1.53 million members in October, an increase of 18.22% from a year ago, according to provisional payroll data released on Wednesday by the labour ministry. Additionally, the payroll data showed that around 1.10 million members had exited the EPFO, only to re-register with the organisation within the same month. "These members have switched their jobs and re-joined the establishments covered under EPFO and opted to transfer their accumulations instead of applying for final settlement thus, extending their social security protection with EPFO," the labour ministry said. Month-on-month comparison of industry-wise data displays significant growth in members working in establishments engaged in the hotel industry, trading and commercial establishments, among others, as per the statement.