Employers up 6.6% at 766,000; members rise 7.6% in FY24: EPFO report

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Employers up 6.6% at 766,000; members rise 7.6% in FY24: EPFO report - Business Standard

Quick Summary:

According to a statement issued on Sunday, the labour secretary and Chairperson of the Executive Committee, Central Board, Employees' Provident Fund Organization (EPFO), presided over the 109th Meeting of the Executive Committee on November 8, 2024, at EPFO Head Office in the national capital.

Retirement fund body EPFO has seen a 6.6 per cent year-on-year rise in contributing employers to 7.66 lakh while recording 7.6 per cent growth in members to 7.37 crore in 2023-24, a labour ministry statement stated.

The Executive Committee is a statutory panel under the EPF Act 1952, with the mandate of rendering assistance to the Central Board of Trustees, EPFO in the discharge of its functions.