Page 2 - Esic

India economy added 52 million new formal jobs in FY20-23: Report

The economy has added around 5.2 crore new formal jobs between FY20 and FY23, with the net addition being 2.7 crore, according to a report based on an analysis of the EPFO, NPS and ESIC data. The government has since April 2018 releasing monthly payroll data from the Employees Provident Fund Organisation or EPFO, the National Pension Scheme or NPS and the Employees State Insurance Corporation or the ESIC, based on the recommendations given by Ghosh & Ghosh report. The EPFO payroll data trends for the past four years show that net new EPF subscriber addition during FY20-23 was 4.86 crore, which consists of new payroll (first payroll), second payroll (rejoined/resubscribed members) and formalised payrolls. Accordingly, the net new payroll (first job/fresh job) adjusted for re-joined/re-subscribed members and formalisation (based on ECR data), shows that the actual net new payroll was 2.27 crore during FY20-23, SBI Research said in a report Tuesday. Of this, the first jobs were 47 ...

Under new labour laws, unused leaves beyond 30 will be paid for by employer

The new regulation will do away with the system where unused leaves used to lapse beyond a certain time limit

2.2 mn new workers including 71 transgenders enrolled under ESIC in June

The Employees' State Insurance Corporation (ESIC) added 20.27 lakh new members under the Employees State Insurance Scheme in June, the Ministry of Labour and Employment has said

ESIC added 2.02 million members, 24,298 new establishments in June

The Employees' State Insurance Corporation (ESIC) added 20.27 lakh new members under the Employees State Insurance Scheme in June. Around 24,298 new establishments were registered and brought under the social security umbrella of the ESIC in June. The provisional payroll data from ESIC reveals that 20.27 lakh new employees were added in June 2023, a labour ministry statement said on Thursday. As per the data, more jobs were generated for the youth. Out of the total 20.27 lakh employees added in June, 9.77 lakh employees were up to the age group of 25 years, which translates to 48.22 per cent of the total number. Gender-wise analysis of payroll data showed that net enrolment of female members stood at 3.87 lakh in June. A total 71 transgender employees were registered under the ESI Scheme during the same period.

Employees' State Insurance Corporation adds 20.23 lakh new members in May

Employees' State Insurance Corporation (ESIC) has added 20.23 lakh new subscribers in May 2023, according to the latest payroll data. The provisional payroll data of ESIC reveals that 20.23 lakh new employees have been added in May 2023, a labour ministry statement said. Around 24,886 new establishments have been registered and brought under the social security umbrella of the Employees' State Insurance Corporation in May 2023, thus ensuring more coverage, it stated. According to the data, more jobs have been generated for the youth of the nation as out of the total 20.23 lakh employees added during May 2023, 9.40 lakh employees up to the age group of 25 years constitute the majority of new registrations, which is 47 per cent of the total employees. Gender-wise analysis of payroll data indicates that the net enrolment of female members has been 3.96 lakh in May 2023. The data also revealed that a total of 71 transgender employees have got registered under ESI Scheme in May 2023. I

ESIC adds 2.02 million new employees for the month of May: Payroll data

The Ministry of Labor and Employment said in a release that around 24,886 new establishments have been registered under the ESIC for the month of May

ESIC adds 1.79 mn new subscribers in April 2023, says payroll data

Gender-wise analysis of payroll data indicates that enrolment of net female members has been 3.53 lakh in April 2023

With fewer than 15 days to deadline, check how to apply for higher pension

Those willing to apply for a higher pension under EPS can do so until June 26, 2023

Over 3,000 rules for retail sector to follow, 37% bring risk of jail time

These requirements include maintenance of records, returns, and filings under the Payment of Bonus Act, 1965; Minimum Wages Act, 1948, Employees' State Insurance Act, 1948, among others

1.6 mn new employees added under ESI Scheme in Feb; 46% under 25 yrs age

Around 11,000 new establishments were registered under ESI Scheme in February 2023

Claims worth Rs 174 cr processed during ESIC Special Services Fortnight

Around 84,000 claims amounting to Rs 174 crore were processed during the Employees' State Insurance Corporation (ESIC) Special Services Fortnight from February 24 to March 10. The special services fortnight was launched by Union Minister for Labour & Employment Bhupender Yadav on February 24 to mark 71 years of services to insured workers and their dependents. It culminated on March 10, a labour ministry statement said on Friday. During the 15 days, the focus was on ease of services to insured persons and their dependents through activities pertaining to clearance of pending bills/claims, redressal of grievances, emphasis on millet diets and yoga, and health check-up camps in industrial clusters. During the fortnight, around 84,000 claims amounting to Rs 174 crore were processed, the statement said. Around 73,659 claims amounting to Rs 53.02 crore were processed and paid to insured workers and their dependents. As many 4,585 bills of tie-up hospitals, 5,305 bills of GeM, ...

ESIC to have 28,116 beds, 241 hospitals in coming days: Bhupender Yadav

Union minister Bhupender Yadav on Friday said the number of beds and hospitals of Employees' State Insurance Corporation (ESIC) will be increased to 28,116 and 241, respectively, in coming days. Yadav was addressing a function to mark 71 foundation day of ESIC here. The minister informed that there were 18,933 beds and 151 hospitals of ESIC in 2014. "Prime Minister Narendra Modi started ESIC 2.0 and in a span of eight years, the number of ESIC beds and hospitals increased to 20,211 and 160 respectively. In coming days the beds would be increased to 28,116 and hospital number will be 241." The minister also referred to government's commitment to provide social security to unorganised workers in the country saying almost 29 crore informal workers are registered on eSharm portal. He was of the view that this national database will be an aid to provide various social security benefits to informal sector workers in the country. Labour ministry stated in a statement that the eShram por

Formal job creation in India rose in November after October lows: MoSPI

Between September 2017 and November 2022, 6.09 crore new subscribers joined the EPF scheme

ESIC plans to fill 6,400 vacancies soon, says Bhupender Yadav

The Employees' State Insurance Corporation (ESIC) has planned to fill 6,400 vacancies including over 2,000 doctors and teaching faculty posts, wiping out the backlogs for manpower, Union Minister for Labour, Employment, Forest, Bhupender Yadav said on Saturday. Stating that health is at the core of the nation-building strategy, he said Prime Minister Narendra Modi's government is focused on ensuring easy access to medial services to all. Delivering the second Graduation Day address at the ESIC Medical College and Hospital at K K Nagar here, the Minister said ESIC is also working towards providing skill-based training programme to the workers for paramedical jobs and has launched certificate courses in 10 disciplines. "As part of the Centre's modernisation initiative under the Nirman Se Shakti' we are setting up 23 new 100-bedded hospitals across the country. We are also setting up over 60 dispensaries that will ensure the delivery of quality medical care service to insured workers

Firms' PAN to be identifier for govt single window clearance system

PAN database has relevant information about companies, says commerce minister Piyush Goyal

ESIC to invest up to 15 per cent surplus funds in equity through ETFs

The decision was taken at an ESIC meeting chaired by the Union labour minister Bhupender Yadav

ESIC approves proposal to invest surplus funds in stock market through ETFs

Government's social security body Employees' State Insurance Corporation (ESIC) on Sunday approved a proposal to invest its surplus funds in the stock market through exchange traded funds (ETFs). The decision was taken in the 189th meeting of ESIC held on Sunday at ESIC headquarters under the chairmanship of Union labour minister Bhupender Yadav, a labour ministry statement said. Due to relatively low returns on investments in various debt instruments coupled with the need to diversify investment, ESIC gave its approval for investments of surplus funds in equities restricted to ETFs. The investment will start with 5 per cent of surplus funds and will increase up to 15 per cent, based on the review of the investment after two quarters, it stated. The investment will be confined to Exchanged Traded Funds on Nifty and Sensex. It will be managed by fund managers of asset management companies (AMSs), the statement said. Equity investments will be monitored by the existing custodian, ..

Centre to soon merge social security contributions by small firms: Report

Currently, the companies have to make separate payments towards the Employees' Provident Fund Organisation (EPFO) and Employees' State Insurance Corporation (ESIC)

ESIC-run social security scheme adds 1.46 mn new members in Aug: Report

Around 14.62 lakh new members joined the ESIC-run social security scheme in August 2022, according to official data released on Tuesday. The latest data is part of a report -- Payroll Reporting in India: An Employment Perspective - August 2022 -- released by the National Statistical Office (NSO). It showed that the gross new enrolments with Employees' State Insurance Corporation (ESIC) rose 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 scheme. The report said gross new enrolments with ESIC from September 2017 to August 2022 were 7.22 crore. The NSO report is based on the payroll data of new subscribers of various social security schemes run by ESIC, the Employees' Provident Fund Organisation (EPFO) and the Pension Fund Regulatory and Development Authority (PFRDA). According to the report, net new enrolments with retirement fund body

ESIC to expand its reach in over 750 districts of country: Labour Minister

The 350 bedded hospital will be spread over 9.5 acres and would entail an expenditure of Rs 500 crore