Formal job creation under ESIC down by 7.8% in April to 1.64 million as compared to 1.78 million in April 2023
Formal job creation under the Employees’ State Insurance Corporation (ESIC) fell by 7.8% to 1.64 million in April 2024 as against 1.78 million in the corresponding month last year, shows the provisional payroll data released by the ministry of labour and employment on Wednesday.
As per the data, around 18,490 new establishments have been brought under the social security ambit of the ESI Scheme in the month of April, 2024 thus ensuring social security to more workers.
“Out of the total 1.64 million employees added during the month, 0.78 million employees or 47.6% of the total employees added to ESIC were up to 25 years of age, suggesting more jobs have been generated for the youth of the nation,” it said in a statement.
Also, the gender-wise analysis of the payroll data indicates that net enrolment of female members has been 0.33 million in April, 2024.
Besides, a total of 53 transgender employees have also got registered under ESI Scheme in the month of April, 2024 which attests the commitment of ESIC to deliver its benefits to every section of the society.
The payroll data is provisional since the data generation is a continuous exercise, it added.
Employees’ State Insurance Corporation is one of the two main statutory social security organisations under the ministry of labour and the employment, the other being the Employees’ Provident Fund Organisation. The fund is managed by ESIC according to rules and regulations stipulated in the ESI Act 1948.
All employees earning up to Rs 21,000 per month as wages
