Formal job creation under ESIC fell 7.5% to 1.59 mn in Nov: Payroll data
Formal job creation under the Employees’ State Insurance Corporation fell 7.5% month-on-month with 1.59 million new employees added to it in November as against 1.72 million added in October. This is the lowest new subscriber addition under ESIC in the current fiscal so far.
ESIC added 1.78 million subscribers in April, 2.02 million subscribers each in May and June, 1.98 million in July, 1.94 million in August and 1.88 million in September.
As per the provisional payroll data of ESIC, released by the ministry of labour and employment on Tuesday, around 20,830 new establishments have been registered and brought under the social security umbrella of Employees’ State Insurance Corporation in the month of November, 2023, thus ensuring more coverage. This is, however, much lower than 23,468 new establishments added to ESIC in October.
Further, employees up to 25 years of age constituted 47% of the total workforce employed in the formal sector under ESIC in the month under consideration with the youth workforce pegged at 0.74 million out of the total 1.59 million formal workers added to ESIC in November.
While the number of female employees added to the scheme in November stood at 0.31 million, 58 transgender employees also got registered under the ESI scheme in November last year, the ministry of labour and employment said.
“It shows that ESIC is committed to deliver its benefits to every section of the society,” the ministry said, adding that the payroll data is provisional since the data generation is a continuous exercise.
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
