Formal job creation under EPFO up 11.9% to 1.56 million in December 2023: Payroll Data
As per the payroll data released by the ministry of labour and employment on Tuesday, the year-on-year net new subscribers addition to EPFO was higher by 4.62% when compared to 1.49 million net new subscribers added in December 2022. This surge in membership can be attributed to various factors, including increased employment opportunities, a growing awareness of employee benefits, and the effectiveness of EPFO’s outreach programs, the labour ministry said
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