Employees Provident Fund Organisation added 19.94 lakh members in July

Business Business: The Employees’ Provident Fund Organisation (EPFO) added 19.94 lakh new members in the month of July, the highest ever increase since payroll data tracking began in April 2018, according to data released by the Ministry of Labour and Employment on Monday. The EPFO ​​added 10.52 lakh new members in July, a growth of 2.66 per cent over June and 2.43 per cent over the same month last year. Union Minister Dr Mansukh Mandaviya said the rise in new members can be attributed to rising employment opportunities, growing awareness about employee benefits and successful outreach programmes of the EPFO. Around 14.65 lakh members who had exited the system rejoined the EPFO ​​in July.