According to India’s Workforce Trends & Quess Corp Role in Formalisation, India’s informal workforce is slowly but surely moving towards formalisation.
The Quess Corp report highlighted that while about 80% of India’s 570 million workers are still employed in the informal economy, formalisation is steadily transforming the landscape. The report highlighted that the Employees’ Provident Fund Organisation (EPFO) recorded a net addition of 139.78 subscribers in FY25, which is a record high. In comparison, in FY19, there was a net addition of 61 lakh new EPFO subscribers.
About 61% of the new subscribers in FY25, as per the report, were under the age of 29, with half of them between the ages of 18 and 25. Additionally, India’s women labour force participation has increased by 41.7% in FY25. A quarter of the new additions in FY25 were woman, highlighting their increased participation.
“To increase women’s participation in the workforce, there must be greater focus on social infrastructure, such as safe accommodation and reliable transportation facilities addressing mobility and safety concerns,” said Lohit Bhatia, Quess Corp President, Workforce Management.
Formal jobs in India, as per the report, are becoming the first step for many young Indians. This is opening the path towards long-term productivity and providing various professional options to the country’s youth.
In its report, Quess added that it contributed 1.33 lakh new Universal Account Numbers (UAN) in FY25, accounting for about 1% net EPFO additions in the year. In 2024-2025, Quess had the highest number of employees in retail at 1.03 lakh. Out of them, about 43,000 were new UANs. Quess’ payroll data also highlighted manufacturing as the industry with the fastest hiring growth rate, owing to a 32% CAGR increase in jobs.
As per the Quess report, the BFSI offered the highest average salary packages at ₹28,500 per month, followed by retail at ₹23,000 per month.
