Around 1.4 million jobs added in July, up from 1.2 mn in June: ESIC Report

Topics ESIC | EPFO | jobs

Around 1.424 million jobs were created in July, higher than 1.249 million in the previous month, according to a latest payroll data from Employees' State Insurance Corporation (ESIC).

Gross enrolments of new subscribers with the ESIC were 1.49 crore during 2018-19, National Statistical Office (NSO) said in a report.

It also showed that from September, 2017 to July, 2019, around 2.83 crore new subscribers joined the ESI scheme.

The NSO report is based on the payroll data of new subscribers of various social security schemes run by the ESIC, retirement fund body EPFO and the Pension Fund Regulatory and Development Authority (PFRDA).

It has been releasing the payroll data or new subscribers data of these three bodies since April, 2018, covering a period starting from September 2017.

The report showed that gross new enrolments with the ESIC during September 2017 to March 2018 were 8.3 million.

A net of 1.161 million new enrolments with the Employees' Provident Fund Organisation (EPFO) were recorded in July, as compared to 1.075 million in June this year.

During 2018-19, 6.112 million new subscribers on a net basis joined the social security schemes run by the EPFO. Similarly, the net new enrolments were 15.52 lakh during September 2017 to March 2018.

It showed that during September, 2017 to July, 2019; around 2.65 crore new subscribers joined the EPF scheme.

The report said that since the number of subscribers are from various sources, there are elements of overlap and the estimates are not additive.

The NSO said the present report gives different perspectives on the levels of employment in the formal sector and does not measure employment at a holistic level.



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