ESIC-run social security scheme adds 1.57 million new members in July

Around 15.72 lakh new members joined the ESIC-run social security scheme in July 2022, according to official data released on Friday.

The latest data is part of a report — Payroll Reporting in India: An Employment Perspective – July 2022 — released by the National Statistical Office (NSO).

It showed 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, around 83.35 lakh new subscribers joined the scheme.

The report said gross new enrolments with from September 2017 to July 2022 were 7.08 crore.

The NSO report is based on the payroll data of new subscribers of various social security schemes run by ESIC, the Employees’ Provident Fund Organisation (EPFO) and Pension Fund Regulatory and Development Authority (PFRDA).

According to the report, net new enrolments with retirement fund body stood at 18.23 lakh in July 2022.

It showed that from September 2017 to July 2022, around 5.7 crore (gross) new subscribers joined the Employees’ Provident Fund scheme.

The report said since the number of subscribers is from various sources, there are elements of overlap, and the estimates are not additive.

NSO also said the report gives different perspectives on the levels of employment in the formal sector and does not measure employment at a holistic level.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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