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09.12 - 14:58
Fewer new entrants to EPFO, ESIC in September
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financialexpress.comNew enrolment under the two prominent social security organisations — EPFO and ESIC — fell to their lowest in three months in September, latest official data released on Thursday showed. While the ‘number of new subscribers’ (not necessarily new jobs) under EPFO fell to 8,94,732 in September from 9,67,869 in July, the number of ‘newly registered employees’ under ESIC in September fell to 13,37,797 from 13,40,140 in July.
While a gradual saturation of the formalisation process due to a focused drive in recent years may be a reason for the fall in number of new subscribers, net enrolment under EPFO has been on the rise since June to stand at 15,41,396 in September. This indicates employers are preferring to take back their old hands more than
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