NEW DELHI: Formal job creation showed drab activity with EPF, ESI and NPS schemes registering a decline in net addition of new subscribers in February. Over 8.40 lakh new subscribers joined the Employee Provident Fund (EPF) scheme in February, registering a fall, compared to 9,24,952 new subscribers that were added in January, according to government data released on Monday.
The provisional payroll data by the ministry of statistics and programme implementation shows that during September, 2017 to February, 2022, 5.18 lakh new subscribers joined the EPF scheme. The data reveals that as many as 12.56 lakh net new subscribers were added under the Employees State Insurance Corporation (ESIC) in February as compared to 12.99 lakh new subscribers added in the preceding month. During September, 2017–February, 2022; 6,34,31,502 new subscribers joined the ESI scheme.
The National Pension Scheme (NPS) also witnessed a slight dip in subscription at 64,611, as compared to 64,998 new subscribers added in January 2022. Overall, 32,90,307 new subscribers have joined and contributed to the NPS Central Government, State Governments and Corporate schemes during September, 2017 to February, 2022.