Around 13 Lakh New Jobs Created In August, Says ESIC Payroll Data
Workers cross a road outside a Tata Steel Ltd. plant in Jamshedpur, Jharkhand, India. (Photographer: Anindito Mukherjee/Bloomberg)

Around 13 Lakh New Jobs Created In August, Says ESIC Payroll Data

Bookmark

Around 13 lakh jobs were created in August, lower than 14.49 lakh in the previous month, according to the payroll data of Employees' State Insurance Corporation.

Gross enrolments of new subscribers with the ESIC were 1.49 crore during 2018-19, the National Statistical Office said in a report. It also showed that during September 2017 to August 2019, around 2.97 crore new subscribers joined the ESIC 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.

Also read: 100% FDI In Coal Mining To Create Direct, Indirect Employment, Says Coal Minister 

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 83.35 lakh.

A net of 10.86 lakh new enrolments with the Employees' Provident Fund Organisation were recorded in August, as compared to 11.71 lakh in July this year.

During 2018-19, 61.12 lakh 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 August 2019; around 2.75 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.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.