A report from SBI Ecowrap indicates that the Employees’ Provident Fund Organisation (EPFO) is projected to generate approximately 1.6 million net payrolls in the fiscal year 2023-24. This estimation highlights the potential for job creation and employment opportunities in India. The EPFO’s role in contributing to the country’s workforce and economic growth is underscored by these forecasts. As the EPFO continues to expand and engage with the labor force, it plays a pivotal role in supporting social security and financial stability for employees across various sectors. This report signifies India’s ongoing efforts to promote job creation and enhance economic prosperity, reflecting the significance of institutions like the EPFO in fostering inclusive growth and financial security.
EPFO Expected to Create 1.6 Million Net Payrolls in FY24, According to SBI Ecowrap Report
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