The Employees State Insurance Corporation (ESIC) in its latest ‘payroll data’ report has showed that job creation dropped by 6.91% in January 2019 to 11.23 lakh as compared to 12.06 lakh in the same month last year. As many as 2.08 crore new subscribers joined the ESIC scheme during September 2017 to January 2019.
The ESIC provides health insurance and medical services to its insured persons covering all those establishments which have 20 or more workers and all those employees whose monthly wages are up to Rs 21,000. The ESIC data is one of payroll numbers released by the Central Statistics Office (CSO) in its reports based on people joining various social security schemes run by the Employees Provident Fund Organisation (EPFO) and Pension Fund Regulatory Development Authority (PFRDA).
Besides, EPFO in its latest ‘Net Payroll Data’ report had showed that employment generation in the India’s formal sector touched a 17-month high of 8.96 lakh in January 2019 as compared to 3.87 lakh in the same month a year ago. The EPFO data showed that around 76.48 lakh new subscribers were added to social security schemes run by it from September 2017 to January 2019. This indicates that these many jobs were created in the formal sector over the past 17 months.
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