EPFO Payroll Data: Fresh figures have emerged about employment in the country. In the year 2018, 9.51 lakh new jobs have been created, which is the highest in 11 months. According to the figures of Employees Provident Fund Organization (EPFO), 9.51 lakh people are engaged in new employment this month. In this way, the number of new jobs generated from September 2017 has been reached to 61.81 lakh Jobs in this year. EPFO started issuing payroll data in September 2017. According to the organization, 9,51,423 new members have registered in different social security schemes of EPFO in July 2018. According to payroll data, 61,81,943 jobs were created between September 2017 and July 2018.
There were 2,68,021 lakh registrations completed in July, most of them are between 18 to 21 years of age. Apart from this, 2,54,827 people were registered between the ages of 22-25 years. These figures are temporary because the information of the updates remains updated for the next months. EPFO said that these figures also include temporary applications. Whose contributions may not be continuous for throughout the entire year.
For each age-wise band, the estimates are net of the members enrolled and ceased during the month as per the EPFO records, it added. The EPFO manages social security funds of workers in the organized/ semi-organized sector.
It runs three social security scheme Employees’ Provident Fund Scheme 1952, Employees’ Deposit Linked Scheme 1976 (EDLI) and Employees’ Pension Scheme 1995. It manages the accounts of over six crore members and a corpus of over Rs 10 lakh crore. Earlier this year, the EPFO had started the practice of updating payroll data on its official portal. The body had also lowered its payroll data estimates earlier.
Earlier this year, the EPFO had started the practice of updating payroll data on its official portal. The body had also lowered its payroll data estimates earlier.
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