Job creation under ESIC scheme up by 13.4%

Over 3 million new employees were added under the scheme

July 18, 2023

In April 2023, 1.78 million formal workers added

Approximately 24,886 new establishments were registered and brought under the social security umbrella of the Employees' State Insurance Corporation (ESIC)

Employees up to 25 years of age accounted for 47% of the total workforce employed in the formal sector under ESIC in May

The youth workforce constituted 0.894 million individuals among the new additions

Formal job creation under the Employees’ State Insurance Scheme (ESIC) in May 2023 witnessed a month-on-month increase of 13.4%, according to Ministry of Labour and Employment data. The ministry released provisional payroll data of ESIC, which revealed the addition of 2.02 million net new employees, compared to the 1.78 million formal workers added in April.

In May 2023, approximately 24,886 new establishments were registered and brought under the social security umbrella of the Employees’ State Insurance Corporation, thereby ensuring greater coverage, as per the provisional payroll data of ESIC.

Regarding demographics, employees up to 25 years of age accounted for 47% of the total workforce employed in the formal sector under ESIC in May. Among the 2.02 million formal workers added to ESIC in May, the youth workforce constituted 0.894 million individuals. Additionally, the number of female employees added to the scheme in May was 0.39 million, and 71 transgender employees also registered under the ESI scheme in the same month, according to the Ministry of Labour and Employment. The payroll data is provisional since data generation is an ongoing process. 

ESIC, along with the Employees’ Provident Fund Organisation, is one of the two primary statutory social security organizations under the Ministry of Labour and Employment.

Source: Economic Times

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