The National Statistical Office report based out on the payroll data of Employees’ State Insurance Corporation (ESIC) suggests that a total of 12.44 lakh new job opportunities were provided in the month of October. The NSO report further adds that a total of 1.49 crores of new subscribers joined the ESIC net in the 2018-19 financial year. The period from September 2017 to March 2018 had total 83.35 lakh gross new enrolments with ESIC, says the report.
A total of 12.23 lakhs job opportunities were created in the month of September 2019.
A sharp decline of approx. 2 lakhs this month has been registered in the new enrolments with the EPFO. In comparison with a total of 9.48 lakh new additions in September; only 7.39 lakhs new enrolments were made with the EPFO in October this year.
The report further claims that ESIC schemes attracted around 3.22 crore new subscribers during the last two years from September 2017 to October 2019. A total of 61.12 lakhs new subscribers enrolled into EPFO’s social security schemes on a net basis in the financial year 2018-19. The net new enrolments rose to 5.52 lakh during September 2017-March 2018.
The NSO has started releasing the report, from April 2018, based on the payroll data of three government bodies – ESIC, EPFO and PFRDA – that provide social security schemes to the subscribers.
The NSO report covers the period starting from September 2017 and gives insight about the levels of employment in the formal sector.