India's EPFO reports a 7.6% rise in members to 73.7 million, marking growth in pension contributions.

The Employees' Provident Fund Organisation (EPFO) in India reported a 7.6% increase in contributing members to 73.7 million in 2023-24, up from 68.5 million the previous year. The number of contributing establishments also rose by 6.6% to 0.76 million. The EPFO saw a 55.4% increase in realized arrear dues to Rs 5,268 crore and a 7.8% increase in claims settled to 4.45 crore. The Executive Committee, chaired by Labour Secretary Sumita Dawra, approved hiring two Chartered Accountant firms for annual financial statements and considered a new policy to aid dependents of deceased employees.

November 10, 2024
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