LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

ESIC payroll data: 23 lakh jobs lost in 10 months till June

As per the retirement fund EPFO`s payroll data, the total number of EPF subscribers went up by 47.13 lakh during the 10-month period till June. And, the total number of new NPS subscribers for the period is 6.10 lakh, the Ministry`s report said.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
ESIC payroll data: 23 lakh jobs lost in 10 months till June
Employee provident fund figures show 47 lakh new jobs were created between September 2017 and June 2018, over 23 lakh jobs were lost in the 10-month period; Image source: PTI
Written By: IANS
Updated: Sat, Aug 25, 2018
03:14 pm
New Delhi, IANS
RELATED NEWS
EPFO claim online: This laudable initiative launched to bring relief to members EPFO claim online: This laudable initiative launched to bring relief to members
EPFO alert! New Year gift from Modi government - Good news is here! EPFO alert! New Year gift from Modi government - Good news is here!
Good news for employees! EPF interest rate hike to 8.65 per cent approved by Finance Ministry Good news for employees! EPF interest rate hike to 8.65 per cent approved by Finance Ministry
Have provident fund (PF), but worried about your balance? See if your company is treating you right Have provident fund (PF), but worried about your balance? See if your company is treating you right
 EPFO data reveals 8.96 lakh jobs created in January, 76.48 lakh in last 17 months EPFO data reveals 8.96 lakh jobs created in January, 76.48 lakh in last 17 months

 If the employees` provident fund figures show 47 lakh new jobs were created between September 2017 and June 2018, over 23 lakh jobs were lost in the 10-month period, going by the employees` state insurance figures.

The number of existing employees contributing for insurance cover under the Employees` State Insurance Corporation (ESIC) fell by 23.43 lakh in the period from 2,95,34,395 in September 2017 to 2,71,91,147 in June 2018, the Ministry of Statistics and Programme Implementation (MoSPI) said on Friday.

The Ministry released "Payroll Reporting in India" study for June 2018, giving an employment perspective based on the number of beneficiaries for three major schemes -- Employees` Provident Fund Organisation (EPFO), ESIC and National Pension Scheme (NPS).

The levels of employment are from various sources, there are elements of overlap and the estimates are not additive, the Ministry said. 

As per the retirement fund EPFO`s payroll data, the total number of EPF subscribers went up by 47.13 lakh during the 10-month period till June. And, the total number of new NPS subscribers for the period is 6.10 lakh, the Ministry`s report said.

As per the report, EPF is applicable to establishments having more than 20 workers drawing up to Rs 15,000 per month with some exceptions and ESIC is for setups having more than 10 workers with monthly wage ceiling of Rs 21,000.

The Ministry has clarified that the number of members subscribing to the schemes merely gives an idea of the level of employment in the formal sector and that there is a need for better method of employment estimation.

"The present report gives different perspectives on the levels of employment in the formal sector and does not measure employment at a holistic level," the Ministry said as it invited suggestions for improving content, coverage and presentation.

However, Prime Minister Narendra Modi, in an email interview with The Times of India published on August 12, used the EPFO data to counter the opposition claims on rising unemployment, saying more than 70 lakh jobs were created in the formal sector in the last one year. 

Watch Zee Business video here:

"According to our study based on the EPFO data, more than 70 lakh jobs were created in the formal sector alone last year... I believe the shortcoming lies in the absence or lack of a streamlined database of jobs," Modi said.

He also said more than 45 lakh formal jobs were created between September 2017 and April 2018.

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Employee Provident Fund Organisation (EPFO)
RELATED NEWS
EPFO claim online: This laudable initiative launched to bring relief to members EPFO claim online: This laudable initiative launched to bring relief to members
EPFO alert! New Year gift from Modi government - Good news is here! EPFO alert! New Year gift from Modi government - Good news is here!
Good news for employees! EPF interest rate hike to 8.65 per cent approved by Finance Ministry Good news for employees! EPF interest rate hike to 8.65 per cent approved by Finance Ministry
Have provident fund (PF), but worried about your balance? See if your company is treating you right Have provident fund (PF), but worried about your balance? See if your company is treating you right
 EPFO data reveals 8.96 lakh jobs created in January, 76.48 lakh in last 17 months EPFO data reveals 8.96 lakh jobs created in January, 76.48 lakh in last 17 months

LATEST NEWS

Heranba Share Price – After bumper listing, is the stock cheaper or expensive? See this EXCLUSIVE research

CBSE Class 10, Class 12 date sheet revised—check new time table, instructions here

Aadhaar card-based driving licence service: Check step by step guide to renew your driving licence online without going to RTO

Trinamool candidate list West Bengal Election 2021: TMC chief Mamata Banerjee announces candidates for 291 seats, to contest from Nandigram; See FULL LIST

IRCTC Share Price Outlook: Anil Singhvi predicts Rs 2500 target, lists out reasons to buy

TMC Candidates List 2021 - Names of 291 candidates announced for West Bengal Elections; See Complete List Here

Greaves Cotton share price: Sharekhan maintains Buy rating with revised price target of Rs 170

Gold Price Today 04-03-2021: EXCLUSIVE! Yellow metal may slide below Rs 44,000; check this money making idea

One of strongest earthquakes in history! Pacific quake sets off tsunami, threat lifts in New Zealand

7th Pay Commission latest news today: Big Holi gift for Central government employees! Center issues this notification on 7th CPC leave rule

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved