増 is built from the 土 and 曾 (formerly / once) components.
It belongs to a phonetic family with 層, 贈, 僧, and 憎 — they share the 曾 component and the reading ゾウ.
A common word using 増 is 増える (ふえる), meaning “to increase, to multiply”.
Don't confuse it with 贈, 憎, 僧, and 層.