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Job creation in formal sector rises to 11.38 lakh in March: ESIC

EPFO payroll data showed that net enrolments rose to 8.14 lakh in March against 7.88 lakh in February this year

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Job creation in formal sector rises to 11.38 lakh in March: ESIC

Gross employment generation in the formal sector rose to 11.38 lakh in March from 11.02 lakh in February, according to official data.

As per ESIC's latest payroll data, around 1.48 crore jobs were generated in the 2018-19 financial year.

The Employees' State Insurance Corporation (ESIC) did not provide gross new enrolments for March 2018.

Total gross new enrolments were at 88.30 lakh during the seven-month period from September 2017 to March 2018. ESIC has been releasing payroll data from April 2018, covering the period starting from September 2017.

The Central Statistics Office Friday released payroll or new enrolment data of ESIC, retirement fund body EPFO and Pension Fund Regulatory and Development Authority together.

The CSO is releasing the data of these three bodies since April 2018 covering the period from September 2017.

The Employees' Provident Fund Organisation (EPFO) payroll data showed that net enrolments rose to 8.14 lakh in March against 7.88 lakh in February this year.

Around 67.59 lakh new subscribers joined social security schemes run by EPFO during entire 2018-19. Total net new enrolments were at 15.52 lakh during the seven-month period to March 2018.

The retirement fund body has also been releasing payroll data from April 2018, covering the period from September 2017.

EPFO in its payroll data did not provide monthly net new enrolments for March 2018.

The CSO said the report released Friday 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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