New Delhi, May 25 (KNN) Around 1.37 crore  jobs were created in the formal sector during the financial year 2018-19, according to data released by the Central Statistics Office (CSO).

As per the latest data, in the month of March 2019, around 8.27 lakh Employees' Provident Fund (EPF) subscribers were added. During the last fiscal, highest subscription to the pension fund was recorded in July 2018 at around 14.21 lakh.

The CSO used addition to the EPF subscriber base to derive employment generation in the formal sector.

EPFO has provided information on new work force, it has also given statistics on number of PF subscribers ceasing to be its members. In FY19, 1.14 crore ceased their subscription to EPFO. This largely means loss of job or superannuation.

There are, however, experts and statisticians who say the EPFO data does not give a complete picture of the employment scenario.