Employees’ State Insurance Corporation (ESIC) reported the enrollment of 16.07 lakh new workers under the ESI Scheme in November 2024.
This marks a notable increase in social security coverage for workers across various sectors in India.
The Employees’ Provident Fund Organisation (EPFO) also released its payroll data for November 2024, showing a net addition of 14.63 lakh members.
This represents a 9.07% increase over the corresponding figure for October 2024.
The year-on-year analysis reveals a growth of 4.88% in net member additions compared to November 2023.
Year-on-Year Growth and Demographic Breakdown
The provisional payroll data released by ESIC indicates a year-on-year growth of 0.97% in net registrations compared to November 2023.
In November 2023, ESIC had added 15.92 lakh new members, highlighting a steady rise in the number of workers benefiting from the scheme.
Out of the total 16.07 lakh employees added during the month, 7.57 lakh employees, amounting to around 47.11% of the total registrations, belong to the age group of up to 25 years.
This indicates a significant influx of young workers into the organized workforce.
Additionally, the gender-wise analysis shows that 3.28 lakh female members were enrolled, and 44 transgender employees were also registered under the ESI Scheme.
ESIC New Establishments and Employment Trends
ESIC’s efforts to expand social security coverage have also resulted in the registration of 20,212 new establishments under the ESI Scheme in November 2024.
This move allows ESIC to cover more workers under the social security umbrella, providing them with essential benefits and protections.
The data reflects increased employment opportunities and heightened awareness of employee benefits, bolstered by effective outreach initiatives by ESIC and EPFO.
The trend of most individuals joining the organized workforce being youth, primarily first-time job seekers, continues to be evident.
Note: We are also on WhatsApp, LinkedIn, Google News, and YouTube, to get the latest news updates, Subscribe to our Channels. WhatsApp– Click Here, Google News– Click Here, YouTube – Click Here, and LinkedIn– Click Here.
