ESIC scheme adds 13.37 lakh new members in September this year

Share



Around 13.37 lakh new members joined the ESIC-run social security scheme in September this year as against 13.42 lakh in the previous month, official data showed on Thursday, giving a perspective on formal sector employment in the country.


The latest data is part of a report released by Statistical Office (NSO).





Gross new enrolments with Employees’ State Insurance Corporation (ESIC) were 10.76 lakh in April, 8.90 lakh in May, 10.65 lakh in June, 13.40 lakh in July and 13.42 lakh in August this year, the latest data showed.


June, July and August figures show an increase in enrolments after easing of COVID-induced restrictions by states post the second wave of the pandemic that hit the country in mid April this year.


The NSO report showed that gross enrolments of new subscribers with were 1.15 crore in 2020-21 compared to 1.51 crore in 2019-20 and 1.49 crore in 2018-19.


During September 2017 to March 2018, around 83.35 lakh new subscribers joined the scheme. The report said gross new enrolments with from September 2017 to September 2021 were 5.70 crore.


The NSO report is based on the payroll data of new subscribers of various social security schemes run by ESIC, the Employees’ Provident Fund Organisation (EPFO) and the Pension Fund Regulatory and Development Authority (PFRDA).


It has been releasing such data of these bodies since April 2018, covering the period starting from September 2017.


According to the report, net new enrolments with retirement fund body EPFO stood at 15.41 lakh in September, up from 13.60 lakh in August 2021.


It showed that during September 2017 to September 2021, around 4.71 crore (gross) new subscribers joined the Employees’ Provident Fund scheme.


The report, titled ‘Payroll Reporting in India: An Employment Perspective – September 2021’, said since the number of subscribers is from various sources, there are elements of overlap and the estimates are not additive.


NSO also said the report gives different perspectives on the levels of employment in the formal sector and does not measure employment at a holistic level.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *