Key Points
Data 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..
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.iStock..
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, according to data released by the ministry of statistics and programme implementation...
The net additions to the EPF payroll increased to 1.34 million in March compared to 1.22 million in the previous month..
ESIC, which is applicable to people earning less than Rs 21,000 per month, added 15.4 million peoplea 3.7% increase over the last year, whereas net additions to the EPF scheme were 13.22% higher...
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Formal job creation shrinks in October
16, Dec, 23However, more new establishments came under the ESIC month-on-month in October, according to the data released by the labour and employment ministry. As per the data, 23,468 new establishments were recognised under the ESIC in October, compared to 22,544 new establishments in the month before. Employees aged up to 25 years made up 47.76% of the total workforce employed under the ESIC scheme in October, a shade lower than 47.98% in September.
Formal job creation under EPFO up marginally in September
20, Nov, 23Provisional payroll data of EPFO, released on Monday, shows 1.72 million net new jobs were created in September compared to 1.69 million added in August this year or 1.68 million added during the same month last year.
Formal job creation under EPFO down 14.2% to 1.39 million in November, according to payroll data
20, Jan, 24As per the provisional payroll data, released by the ministry of labour and employment, EPFO also registered a decline of 9.15% in formal job creation month-on-month as 1.53 million net new jobs were created in the retirement fund body in October 2023.
EPFO enrolments surge; 54% of new staff aged 18-25
20, Jun, 23Of the 1.72 million subscribers added in the April, around 847,000 new members have come under the social security cover of Employees‘ Provident Fund & Miscellaneous Provisions Act 1952, for the first time.
ESIC adds 16.03 lakh new subscribers in February
18, Apr, 23According to the data released by the ministry of labour and employment on Tuesday, around 11,000 new establishments have been registered in the month of February, 2023 under the Employees State Insurance Scheme ensuring social security cover to their employees.