Key Points
NEW DELHI: Formal job creation remained muted in May after a stellar rise in April even as less-paying jobs increased, official data released on Tuesday showed..
New subscriptions to the Employees Provident Fund Scheme declined 1% sequentially in May, while the Employees' State Insurance Corporation, which applies to smaller establishments and less remunerative jobs, showed 11% rise in new subscribers month on month...
The number of people re-subscribing to the EPF scheme declined 16% in May compared to April,labour and employment ministry data showed...
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New job additions to the formal sector decline in October
22, Dec, 23The number of new subscribers to the Employees Provident Fund (EPF) Scheme declined for the third consecutive month to 772,084 in October compared with 926,934 in the previous month, recording its lowest level since the start of the year, according to preliminary data released by the ministry of statistics and programme implementation.
Formal job creation picks up in March
25, May, 23Data released by the Ministry of Statistics and Programme Implementation shows that there was a double-digit increase in formal job creation across all categories in March 2022 compared to the previous month. While net additions to the Employees' Provident Fund Organisation increased 10.1%, new subscriptions to the Employees' State Insurance Corporation and National Pension Scheme increased 5.4% and 77.5%, respectively, over the same period. The EPF scheme and ESIC witnessed their highest net addition to the payroll over the last five years, with nearly 13.9 million new subscribers to the EPF scheme.
EPFO issues guidelines to let subscribers opt for higher pension. Check details
21, Feb, 23Under the new rules, subscribers can go beyond the pensionable salary, capped at ₹15,000 per month.