Formal job creation under ESIC fell by 17.1% to 1.02 million in November 2021

Formal job creation under the Employees State Insurance Corporation fell by 17.1% to 1.02 million in November 2021 against 1.23 million in the previous month, official data showed on Tuesday. Even subscribers under the National Pension Scheme fell by 5.8% to 64,870 as against 68,870 in October.

The formal employee addition under the Employees Provident Fund Organization, however, went up in November 2021 by 25.6% to 1.39 million compared to 1.11 million net new subscribers added in October 2021.

As per the report, 0.83 million male subscribers were added to ESIC while 0.19 female subscribers were added to ESIC.

Of the total 1.39 million net subscribers added to EPFO during the month, 0.82 million new members have come under the social security cover of EPFO for the first time and 0.56 million net subscribers exited but rejoined EPFO by changing jobs within the establishments covered under the purview of EPF & MP Act, 1952.

Highest number of net enrolments were registered in the 22-25 years age group with 0.36 million net new additions during November while the 18-21 years age group saw an addition of 0.28 million net enrolments.

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

As part of the report, 41,053 state government employees were added to NPS, 13,748 central government subscribers were added to NPS and 10,069 were corporate sector employees.

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 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.

The report, titled ‘Payroll Reporting in India: An Employment Perspective – November 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.

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