15.43 Lakh New Employees Registered Under ESI Scheme in February

Synopsis

In February, a total of 15.43 lakh new employees were enrolled under the ESI Scheme, with a significant portion being young workers. The addition of new establishments also reflects a growing commitment to social security across various demographics.

Key Takeaways

15.43 lakh new employees added in February.
7.36 lakh employees are aged 25 and below.
3.35 lakh women enrolled in the ESI Scheme.
74 transgender individuals registered under the scheme.
Continuous data updates expected from ESIC.

New Delhi, April 25 (NationPress) The provisional payroll statistics from the Employees’ State Insurance Corporation (ESIC), released on Friday, reveal that 15.43 lakh new workers have been registered in February of this year.

A total of 23,526 new establishments have been included under the social security framework of the ESI Scheme during the month, which aims to provide social security to a larger workforce, as stated by the Ministry of Labour and Employment.

The data indicates that among the 15.43 lakh employees added, 7.36 lakh, representing approximately 47.7 percent of all registrations, are in the youngest age group of up to 25 years. Most of these individuals are in their first jobs, signaling a positive trend in employment within the economy.

An analysis based on gender shows that there was a net addition of 3.35 lakh female members in February. Additionally, 74 transgender employees were also registered under the ESI Scheme during the month, as part of efforts to ensure benefits reach all segments of society.

The payroll data is provisional and subject to revision as more information becomes available, the statement noted.

This data from ESIC follows the Employees' Provident Fund Organisation (EPFO) statistics released earlier this week, which reported a net increase of 16.10 lakh members in February this year. A year-on-year comparison shows a 3.99 percent growth in net payroll additions compared to the same month last year, reflecting enhanced employment opportunities and greater awareness of employee benefits, driven by EPFO’s outreach initiatives, according to an official statement.

Moreover, the figures indicated that EPFO registered around 7.39 lakh new subscribers in February, with a significant representation from the 18-25 age group. Specifically, 4.27 lakh new subscribers were added from this demographic, accounting for a substantial 57.71 percent of the total new subscribers for the month. This aligns with previous trends, which suggest that the majority of individuals entering the organized workforce are young people starting their first jobs.

Furthermore, the net payroll addition for those aged 18-25 in February stands at approximately 6.78 lakh, marking a growth of 3.01 percent from the same month last year, the statement concluded.