The Ministry of Statistics and Program Implementation has been releasing employment related data in the formal sector since April 2018.
Enrollment in the Social Security Scheme run under the Employees’ State Finance Corporation (ESIC) came down to a four-month low in October. According to the data released on Friday, the number of newly registered employees under ESIC decreased in October. This number was 13,57,348 in September 2021, which came down to 12,19,525 in October. In August this number was 13,47,727 while in July it was 13,40,944.
These figures indicate employment status
Although the number of newly registered members is more as compared to April and May. But there is a decline in comparison to September. In fact, due to the havoc of Corona in April-May, unemployment was at its peak and companies were recruiting very few people. In April, only 10.78 lakh employees were registered in ESIC, while in May this number was reduced to 8.9 lakh. Under ESIC, insurance and free medical care of low-paid employees are covered. This is for those employees whose monthly salary is up to Rs. 21 thousand. This facility is applicable in industrial and commercial establishments having more than ten employees. This is for those employees whose salary is less.
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Data related to employment is being released from April 2018
The Ministry of Statistics and Program Implementation has been releasing employment related data in the formal sector since April 2018. Under this, the figures till 2017 have been covered. In this, the number of employees registered under ESIC is also given. It also shows the employment situation in the formal sector. However, from September 2017 to October 2021, six crore new members have joined ESIC. This means so many people have got employment in the organized sector.
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