EPFO Reports Highest Ever Monthly Payroll Additions In July 2024

Industry-wise, the top sectors driving the highest net payroll additions in July 2024 include manufacturing, marketing services, the usage of computers, and building and construction.

The Employees' Provident Fund Organisation (EPFO) has reported its highest-ever monthly payroll addition in July 2024, with 19.94 lakh members joining the ranks.

This highlights a shift in India's employment landscape, reflecting the effectiveness of the Modi Government's transformative schemes aimed at driving job creation and formalising the job market.

The EPFO data indicates that of the new additions, 10.52 lakh are first-time employees, marking a 2.66 per cent increase over June 2024 and a 2.43 per cent rise compared to July 2023.