EPFO Data Says Job Creation Doubled In September
Job creation more than doubled to 9.73 lakh in September compared to 4.11 lakh in the same month last year, according to the Employees’ Provident Fund Organisation payroll data released Tuesday. This is the highest monthly addition since September 2017.
Around 79.48 lakh new subscribers were added to social security schemes of the EPFO from September 2017 to September 2018, the data showed. This indicates that these many jobs were created in the last 13 months.
During September this year, maximum number jobs were created in the 18-21 years age group followed by the 22-25 years age bracket.
The EPFO said in its statement that the data is provisional as updation of employees records is a continuous process and gets updated in subsequent months.
“This is age-band wise data of new members registered under the EPFO where the first non-zero contribution received during particular month. For each age-wise band, the estimates are net of the members newly enrolled, exited and rejoined during the month as per records of the EPFO,” it added.
The estimates may include temporary employees whose contributions may not be continuous for the entire year. Members' data are linked to unique Aadhaar Identity, it added.
The EPFO manages social security funds of workers in the organised/semi organised sector in India and has more than 6 crore active members (with at least one-month contribution during the year).