New Delhi: The provisional payroll data of the Employees’ State Insurance Corporation (ESIC) released on Friday shows that 15.43 lakh new employees have been added during February this year.he data show that out of the total 15.43 lakh employees added during the month, 7.36 lakh employees, amounting to around 47.7 per cent of the total registrations, belong to the youngest age group of up to 25 years. Most of these youngsters are in their first jobs, which is an indicator of the increase in employment in the economy.
A gender-wise analysis of the payroll data indicates that the net enrolment of female members was 3.35 lakh in February. Besides, a total of 74 transgender employees have also been registered under the ESI Scheme during the month as part of the outreach to extend benefits to all sections of society.
The payroll data is provisional since the data generation is a continuous exercise and can be revised with more information flowing in, the statement said.
As many as 23,526 new establishments have been brought under the social security ambit of the ESI Scheme during the month, ensuring social security to more workers, according to a statement issued by the Ministry of Labour and Employment.
The ESIC data comes close on the heels of the Employees' Provident Fund Organisation (EPFO) figures released earlier this week, which showed a net addition of 16.10 lakh members in February this year. The year-on-year analysis reveals a growth of 3.99 per cent in net payroll additions compared to the same month last year, reflecting increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO’s effective outreach initiatives, according to an official statement.
The net payroll addition for the age group 18-25 for February is approximately 6.78 lakh, which represents a growth of 3.01 per cent from the same month last year, the statement said.
The figures also showed that EPFO enrolled around 7.39 lakh new subscribers in February, with a dominance of the young 18-25 age group. As many as 4.27 lakh new subscribers were added in this age group, constituting a significant 57.71 per cent of the total new subscribers added in the month. This is in consonance with the earlier trend, which indicates that most individuals joining the organised workforce are youths, getting into their first jobs.
Disclaimer: This story is from the syndicated feed. Nothing has been changed except the headline.
