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Net pay roll data released by EPFO; shows job growth in Jan 2019

Updated: Mar 23, 2019 06:35:14am
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Net pay roll data released by EPFO; shows job growth in Jan 2019

New Delhi, Mar 23 (KNN) The net payroll data released by Employee Provident Fund Organization (EPFO) from September 2017 to January 2019 has shown a robust growth in total jobs created with some ups and downs in the mid.

The EPFO has been releasing payroll data from April 2018, covering the period starting Sept 2017.

The data showed that 76.48 lakh new employees were added to the social security schemes of the Employees' Provident Fund Organization (EPFO) from September 2017 to January 2019. Meanwhile, the net employment generation in the formal sector reached 8.96 lakh during the month.

The EPFO payroll data shows the number of net subscribers added to EPFO fold each month. It is also
treated as the official benchmark for gauging job creation in the country.

The addition in January was 131 per cent higher as compared with 3.87 lakh EPFO subscribers added in the year-ago month.

Around 76.48 lakh new subscribers were added to social security schemes of the Employees' Provident Fund Organization (EPFO) from September 2017 to January 2019, the data showed.

The net EPFO enrolment in January 2019 stood at 8,96,516, which is the highest since September 2017, shows EPFO data.

The data also reveals that negative growth during September 2017 to December 2017 and later in March 2018. Post it has shown a robust growth in employment. (KNN/YV)

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