Approximately 67.58 lakh jobs generated in last fiscal says EPFO data

Last Updated: Tue, May 21, 2019 21:24 hrs
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The latest payroll data from the Employees Provident Fund Organisation says that 67.58 lakh jobs were generated during the fiscal ending March 31 2019.

The agency released a graph of job data month-wise and age-wise for the twelve months of the fiscal starting from April-18 to March-19.

For the month of March 2019, the provisional estimate of net employment generation in the formal sector is reported at 8.14 lakh. Net new subscribers for month of March is reported at 818040 subscribers.

A month ago, net payroll shows 7.88 lakh subscribers.

The retirement fund body has been releasing payroll data from April 2018, covering the period starting from September 2017. Total net new enrolments were reported at 15.52 lakh during the seven-month period from September 2017 to March 2018.

Here is an image of a chart as released by the EPFO: The PIB also published a snapshot of EPFO's payroll data.

The payroll data released in April 2019 had showed a sharp revision in net job additions for March 2018, recording a contraction or exit of 55,934 members from the EPFO subscriptions. On the contraction, the EPFO had reportedly said, "March 2018 figure is negative due to large number of exits reported in the month of March, in view of it being the closing month of the financial year."

The EPFO said the data was provisional as updation of employee records is a continuous process and gets updated in subsequent months.

The EPFO manages social security funds of workers in the organised or semi organised sector in India and has more than 6 crore active members (with at least one-month contribution during the year).

Also, estimates could include temporary employees whose contributions may not be continuous for the entire year.

The twenty six page report shows age-wise subscribers added by services such as Expert Services, trading, Electrical/Mechanical, Engineers, Construction, Manufacturing & Marketing, Textiles, Garment making, Cleaning/Sweeping services, and hospitals.

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