EPFO, ESIC bases expand at a slow pace in February – CASINOIN -Sports betting at the casinoin betting company,casinoin online betting, casinoin bookmaker line, casinoin bookmaker bonuses, casinoin bookmaker, casinoin bookmaker, casinoin sports betting, casinoin bookmaker, casinoin bookmaker,

The pace of formalisation of jobs slowed in February, revealed the latest payroll data compiled by the ministry of statistics and programme implementation (MosPI).

At a four-month low, 0.84 million new subscribers joined the social security schemes run by the Employees’ Provident Fund Organisation in February. The number of newly-registered employees who start paying contribution during the month fell to a three-month low for Employees’ State Insurance Corporation (ESIC) at 1.25 million.

Number of new subscribers’ addition was the highest in August when a little over one million joined the EPFO scheme for the first time. The highest addition of new subscribers in ESIC was in December at 1.54 million. “The numbers of subscribers are from various sources and there are elements of overlap. Therefore, the estimates from various sources are not additive,” MoSPI said.

The February numbers do somewhat corroborate with the Centre for Monitoring Indian Economy’s (CMIE’s) unemployment data. According to the private sector thinktank, India’s unemployment rate was a six-month high of 8.1% in February.

Since April 2018, MosPI has been bringing out the employment-related statistics in the formal sector covering the period September 2017 onwards, using information on the number of subscribers who have subscribed under major schemes, including EPFO and ESIC. While EPFO is applicable to establishments having more than 20 workers, ESIC applies to entities having 10 or more people.



Author: Howard Caldwell