ESIC Payroll Data Shows 12.44 Lakh New Jobs Were Created In October
Around 12.44 lakh jobs were created in October as compared with 12.23 lakh in the previous month, according to payroll data of Employees' State Insurance Corporation.
According to ESIC’s payroll data, gross enrolments of new subscribers stands at 1.49 crore during 2018-19, the National Statistical Office said in a report. It also showed that during between September 2017 and October 2019, around 3.22 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 ESIC, retirement fund body Employees' Provident Fund Organisation and the Pension Fund Regulatory and Development Authority.
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 ESIC during the September 2017-March 2018 period were 83.35 lakh.
A net of 7.39 lakh new enrolments with the EPFO were recorded in October, compared with 9.48 lakh in September this year.
In 2018-19, 61.12 lakh new subscribers on a net basis joined the social security schemes run by EPFO. Similarly, the net new enrolments were 15.52 lakh during September 2017-March 2018.
The latest data showed that during September 2017-October 2019, around 2.93 crore new subscribers joined the Employees' Provident Fund 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 report gives different perspectives on the levels of employment in the formal sector and does not measure employment at a holistic level.