Payroll Data

Though many of them expect limited near-term impact, lack of SVB-like support system may pinch them later

Private companies in the US added 132,000 jobs in August, indicating a slower growth in a tight labour market, a payroll data company said in a report

Around 14.93 lakh new members joined the ESIC-run social security scheme in May 2022, according to official data released on Monday. The latest data is part of a report -- Payroll Reporting in India: An Employment Perspective - May 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 May 2022 were 6.76 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 Pension Fund Regulatory and Development Authority (PFRDA). According to the report, net new enrolments with retirement fund body EPFO stood at

The EPFO provides provident fund, pension benefits to the members on their retirement and family pension & insurance benefits to their families in case of untimely death of the member

The numbers - also called net payroll data - were higher in each of the first four months of the current financial year than the average monthly figure of previous years

While 2020-21 may not be the right year to compare with due to Covid, net payroll data in each of April, May and June exceeded average monthly figure since the data began to be compiled for Sept 2017

Net new enrolments with retirement fund body EPFO increased by 13.73 per cent to 12.76 lakh in April from 11.22 lakh in March this year, according to payroll data released on Sunday.

The increasing number of Covid cases and reimposition of some restrictions in a few states of the country, particularly Maharashtra, may have an adverse impact on the numbers going forward

Net payroll addition rose to 12.5 trillion in December from 8.7 trillion in the previous month

After looking up for two months since lockdown was eased in September, various data point to slowing down of the economy in November

Provisional payroll data released by the EPFO last month had shown that net new enrolments stood at 845,000 in July this year

The NSO report showed gross enrolments of new subscribers with the ESIC were 15.1 mn in 2019-20, against 14.9 mn in the previous fiscal

Provisional payroll data released by the EPFO last month had shown that net new enrolments stood at 655,000 in June this year. The figure has now been revised down to 4,82,352

If only new payroll members are accounted for, there is still some way to go for getting back to pre-covid

The net new enrolments with the EPFO hover around 700,000 every month on an average

The NSO report is based on the payroll data of new subscribers of various social security schemes run by ESIC, retirement fund body EPFO and pension fund regulator PFRDA.

Gross enrolments of new subscribers with the ESIC were 1.49 crore during 2018-19, a report released by National Statistical Office (NSO) stated

It is high time the government moved away from a survey-based approach of assessing employment growth in the country, and opted for payroll data