New ESIC scheme enrolments fall to four-month low in Oct

[ad_1]

As per the latest official data released on Friday, the number of ‘newly registered employees’ under ESIC in October fell to 12,19,525 from 13,57,348 in September. It was 13,47,727 in August and 13,40,944 in July.

New enrolments under the social security scheme run by the Employees’ State Insurance Corporation (ESIC) fell to a four-month low in October.

As per the latest official data released on Friday, the number of ‘newly registered employees’ under ESIC in October fell to 12,19,525 from 13,57,348 in September. It was 13,47,727 in August and 13,40,944 in July.

However, the October number is still higher than the number of new members joined with the scheme in April and May, when the second wave of the pandemic was wreaking havoc on the country. In April, 10.78 lakh employees registered with the ESIC. The number fell to 8.9 lakh in May.

The ESIC is tasked with giving insurance cover and free medical care to those earning monthly wages of up to Rs 21,000. The ESIC benefits are available to low-earners in specified industrial and commercial establishments employing more than 10 workers.

Since April 2018, the ministry of statistics and programme implementation has been bringing out the employment-related statistics in the formal sector covering the period September 2017 onwards, using information on the number of subscribers who have subscribed under major schemes, including the ESIC.

During September 2017-October 2021, nearly 6 crore new members joined the ESIC scheme, official data showed.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

[ad_2]

Source link