12.44 lakh new jobs created in October: ESIC data

12.44 lakh new jobs created in October: ESIC data

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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 (ESIC).

Gross enrolments of new subscribers with ESIC were 1.49 crore during the entire financial year 2018-19, the National Statistical Office (NSO) said in a report.

It also showed that during the September 2017-October 2019 period, 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 EPFO and the Pension Fund Regulatory and Development Authority (PFRDA).

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 Employees' Provident Fund Organisation (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.

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