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    Home»Business»ESIC Scheme Adds 15.72 Lakh New Members in July
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    ESIC Scheme Adds 15.72 Lakh New Members in July

    By adminSeptember 23, 2022Updated:September 23, 2022No Comments0 Views
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    Last Updated: September 23, 2022, 19:17 IST

    Net new enrollments with retirement fund physique EPFO ​​stood at 18.23 lakh in July 2022.

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

    Around 15.72 lakh new members joined the ESIC-run social safety scheme in July 2022, based on 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 National Statistical Office (NSO).

    It confirmed that the gross new enrolments with Employees’ State Insurance Corporation (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 stated gross new enrolments with ESIC from September 2017 to July 2022 have been 7.08 crore. The NSO report relies on the payroll knowledge of latest subscribers of assorted social safety schemes run by ESIC, the Employees’ Provident Fund Organization (EPFO) and Pension Fund Regulatory and Development Authority (PFRDA).

    According to the report, web 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 Employees’ Provident Fund scheme.

    The report stated for the reason that variety of subscribers is from numerous sources, there are parts of overlap, and the estimates aren’t additive. NSO additionally stated the report offers totally different views on the degrees of employment in the formal sector and doesn’t measure employment at a holistic stage.

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