The Central Statistics Office has released jobs data for EPFO, ESIC and PFRDA. (Photographer: Anindito Mukherjee/Bloomberg)

11.38 Lakh Jobs Created In March In Formal Sector, Shows ESIC Data

Gross employment generation in the formal sector rose to 11.38 lakh in March from 11.02 lakh in February, according to official jobs data from Employees’ State Insurance Corporation. According to ESIC jobs data, around 1.48 crore jobs were generated in 2018-19. It did not provide gross new enrolments for March 2018.

Total gross new enrolments were at 88.30 lakh during the seven-month period from September 2017 to March 2018. ESIC has been releasing jobs data from April 2018, covering the period starting from September 2017.

On Friday, the Central Statistics Office released payroll or new enrolment data of ESIC, retirement fund body Employees Provident Fund Organisation and Pension Fund Regulatory and Development Authority together. The CSO is releasing the jobs data of ESIC, EPFO and PFRDA since April 2018 covering the period from September 2017.

The EPFO jobs data showed that net enrolments rose to 8.14 lakh in March against 7.88 lakh in February this year. Around 67.59 lakh new subscribers joined social security schemes run by EPFO during 2018-19. Total net new enrolments were at 15.52 lakh during the seven-month period to March 2018.

The retirement fund body has also been releasing payroll data from April 2018, covering the period from September 2017.

EPFO in its jobs data did not provide monthly net new enrolments for March 2018.

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

Bloomberg Quint

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