ESIC Scheme Provides 15.72 Lakh New Members in July

Final Up to date: September 23, 2022, 19:17 IST

Web new enrolments with retirement fund physique EPFO stood at 18.23 lakh in July 2022.

Gross new enrolments with Workers’ State Insurance coverage Company rose to 1.49 crore in 2021-22, from 1.15 crore in 2020-21

Round 15.72 lakh new members joined the ESIC-run social safety scheme in July 2022, in keeping with official knowledge launched on Friday. The newest knowledge is a part of a report — Payroll Reporting in India: An Employment Perspective – July 2022 — launched by the Nationwide Statistical Workplace (NSO).

It confirmed that the gross new enrolments with Workers’ State Insurance coverage Company (ESIC) rose to 1.49 crore in 2021-22, from 1.15 crore in 2020-21. It was 1.51 crore in 2019-20 and 1.49 crore in 2018-19. From September 2017 to March 2018, round 83.35 lakh new subscribers joined the ESIC scheme.

The report mentioned gross new enrolments with ESIC from September 2017 to July 2022 have been 7.08 crore. The NSO report is predicated on the payroll knowledge of latest subscribers of assorted social safety schemes run by ESIC, the Workers’ Provident Fund Organisation (EPFO) and Pension Fund Regulatory and Improvement Authority (PFRDA).

In keeping with the report, internet new enrolments with retirement fund physique EPFO stood at 18.23 lakh in July 2022. It confirmed that from September 2017 to July 2022, round 5.7 crore (gross) new subscribers joined the Workers’ Provident Fund scheme.

The report mentioned because the variety of subscribers is from numerous sources, there are parts of overlap, and the estimates are usually not additive. NSO additionally mentioned the report offers totally different views on the degrees of employment within the formal sector and doesn’t measure employment at a holistic stage.

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