Formal job creation up significantly in April

New Delhi: Formal job creation registered a significant year-on-year increase in April across the Employees' Provident Fund Organisation (EPFO), Employees' State Insurance Corporation (ESIC) and National Pension Scheme (NPS), as April 2021 was the peak month of the second wave of the Covid-19 pandemic which impacted hiring last year.

The provisional payroll data released by the statistics and programme implementation ministry on Friday showed net new subscriber addition under the EPFO grew 41.6% to 1.7 million in April from 1.2 million last year. Net new subscribers under the ESIC increased 21.1% in April to 1.2 million, from 1.04 million in the year-ago period, while new additions under the NPS were 15.6% higher at 64,569 compared to 55,844 in April 2021.

Of the 1.7 million net subscribers added in April under the EPFO, about 0.92 million new members were enrolled under the social security cover of EPF & MP Act, 1952 for the first time, said the EPFO.


About 1.16 million net subscribers exited but re-joined the EPFO by transferring their accumulations from the previous PF account to the current PF account, instead of claiming for final withdrawal.