State Employees Insurance Corporation: ESIC scheme adds 14.93 lakh new members in May

About 14.93 lakh new members joined the ESIC-run social security scheme in May 2022, according to official data released on Monday. The latest data is part of a report — Payroll Reporting in India: An Employment Perspective – May 2022 — released by the National Statistical Office (NSO).

It showed gross new registrations with the Employees’ State Insurance Corporation (ESIC) increased 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 ESIC program.

The report states that ESIC gross new enrollment from September 2017 to May 2022 was 6.76 crore.

The ONS report is based on wage data for new entrants to various social security schemes run by the ESIC, the Employees Provident Fund Organization (EPFO) and the Funds Development and Regulation Authority of pension (PFRDA).

According to the report, net new registrations with pension fund body EPFO ​​stood at 16.81 lakh in May 2022.

It showed that from September 2017 to May 2022, about 5.48 crore (gross) new subscribers joined the Employees Provident Fund scheme.

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

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

Comments are closed.