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Formal job creation jumped by 37.9% in 2021
February 21, 2022
Formal job creation in India hopped by 37.9% in November 2021 with 1.39 million net new subscribers added to the Employees Provident Fund Organization compared with 1.01 million included in November 2020, shows the provisional payroll data released on Thursday.
Month-on-month, EPFO registered a growth of 25.6% in November or 0.28 lakh more subscribers added compared with 1.11 million net new subscribers included October 2021.
Of the all-out 1.39 million net subscribers added during the month, 0.82 million new individuals have gone under the social security cover of EPFO interestingly and 0.56 million net subscribers left however rejoined EPFO by changing jobs within the establishments covered under the purview of EPF and MP Act, 1952.
Largest number of net enrolments were enrolled in the 22-25 years age bunch with 0.36 million net new increments during November while the 18-21 years age group saw an addition of 0.28 million net enrolments.
The net share of female subscribers during the month remained at 0.29 million, which is very nearly 59,005 more than that of subscribers added during October, 2021, a month-on-month increase of 24.9%.
Biggest number of formal jobs were created in establishments across Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka with 0.84 million subscribers added during the month in these states, which is around 60.60% of all-out net payroll addition across all age groups.
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