TeamLease Services Honored by EPFO for Empowering Women in India

By: WE Staff | Thursday, 31 August 2023

TeamLease Services has received the prestigious Certificate of Excellence from the Employees’ Provident Fund Organization (EPFO), under the Ministry of Labor and Employment. The award recognizes the company's innovative e-nomination initiatives aimed at empowering the women workforce in India. This distinction positions TeamLease Services among the top 75 companies in India, reaffirming its dedication to fostering female talent, promoting diversity, and nurturing an inclusive work environment.

The accolade also underscores TeamLease's relentless endeavors to enhance financial security, equal representation, and career prospects for women in the workforce. In a corporate landscape marked by evolving gender dynamics, TeamLease stands out for its unwavering commitment to cultivating inclusivity and diversity. With a consistent female workforce participation rate of 30% since 2019, the General Staffing division boasts an impressive ratio of 235 women to 516 men. The Specialized Staffing vertical excels further, featuring 53% female employees and a remarkable 30% female leadership representation. Notably, TeamLease and its group companies exhibit a gender parity at the leadership level that stands tall compared to industry benchmarks.

Expressing his viewpoint, Mr. Kartik Narayan, CEO of Staffing at TeamLease Services, articulated, "At TeamLease, we firmly believe that diverse teams foster heightened creativity, innovation, and overall business success. Our commitment to gender parity remains steadfast, and the EPFO's recognition underscores our resolve to create an all-encompassing and progressive ecosystem. Our current female workforce ratio stands at 31.06%, surpassing the industry average of 26% by 5.06%. Since 2019, this gender ratio has consistently exceeded 30%, reflecting our unwavering pursuit of balanced and inclusive growth."

Shri P. Senthil Kumar, Regional PF Commissioner-I at the Bengaluru (Central) Regional Office, lauded TeamLease's efforts in e-nomination filing, acknowledging that the company, which primarily caters to entry-level jobs, employs approximately 30% women. The company's understanding of the social security schemes under the EPF & MP Act is evident in its commitment to filing E-Nominations for employees who become EPF members for the first time, ensuring timely benefits and EPF accumulations to the nominees of deceased members.

As India aspires to achieve a $5 trillion economy, addressing gender disparities assumes paramount importance. Currently, the Indian workforce comprises a mere 40 million women compared to 360 million men, and gender pay parity remains imbalanced. The industry is taking cohesive steps to foster equitable opportunities, with women's representation in the workforce expected to strengthen. TeamLease Services, making significant strides toward gender equality, finds the EPFO's Certificate of Excellence a testament to its achievements and a catalyst for even greater inclusivity.