Workforce (Organised Sector)
India's organised workforce can be identified through the subscriber base in three major schemes:
- EPF: Employees’ Provident Fund (EPF) scheme is the country’s principal organization responsible for providing social security benefits to the organized/semi-organized sector workforce covered under the statute of EPF & MP Act, 1952. It provides provident fund, pension benefits to the members on their retirement, and family pension and insurance benefits to their families in case of the untimely death of the member. EPF is applicable to establishments having more than 20 workers. The pay ceiling is Rs.15000/- per month. Persons drawing pay above Rs. 15,000 are exempted or can be enrolled with some permission or on a voluntary basis.
- ESI: Employees’ State Insurance (ESI) scheme is an integrated social security scheme tailored to provide socio-economic protection to the workers in the organized sector and their dependents, in contingencies, such as Sickness, Maternity and Death or Disablement due to an employment injury or occupational hazard. ESI is applicable to non-seasonal, manufacturing establishments employing 10 or more workers. The wage ceiling is Rs. 21,000 per month.
- NPS: The Pension Fund Regulatory and Development Authority (PFRDA)’s National Pension Scheme (NPS) is an easily accessible, low cost, tax-efficient, flexible and portable retirement account for individuals between 18-70 years. Under the NPS schemes for the Govt. Sector, the individual contributes to his retirement account, while his employer also contributes for the social security/welfare of the individual. From January 2004, the Central and State Governments have adopted this scheme for new employees except for armed forces
The payroll data is provisional since the data generation is a continuous exercise, as updating employee records is a continuous process. The previous data hence gets updated every month.
The numbers of subscribers are from various sources and may contain elements of overlap. Therefore, the numbers cannot be added together to get a total count of workers in the organised sector.
India's organised workforce can be identified through the subscriber base in three major schemes:
- EPF: Employees’ Provident Fund (EPF) scheme is the country’s principal organization responsible for providing social security benefits to the organized/semi-organized sector workforce covered under the statute of EPF & MP Act, 1952. It provides provident fund, pension benefits to the members on their retirement, and family pension and insurance benefits to their families in case of the untimely death of the member. EPF is applicable to establishments having more than 20 workers. The pay ceiling is Rs.15000/- per month. Persons drawing pay above Rs. 15,000 are exempted or can be enrolled with some permission or on a voluntary basis.
- ESI: Employees’ State Insurance (ESI) scheme is an integrated social security scheme tailored to provide socio-economic protection to the workers in the organized sector and their dependents, in contingencies, such as Sickness, Maternity and Death or Disablement due to an employment injury or occupational hazard. ESI is applicable to non-seasonal, manufacturing establishments employing 10 or more workers. The wage ceiling is Rs. 21,000 per month.
- NPS: The Pension Fund Regulatory and Development Authority (PFRDA)’s National Pension Scheme (NPS) is an easily accessible, low cost, tax-efficient, flexible and portable retirement account for individuals between 18-70 years. Under the NPS schemes for the Govt. Sector, the individual contributes to his retirement account, while his employer also contributes for the social security/welfare of the individual. From January 2004, the Central and State Governments have adopted this scheme for new employees except for armed forces
The payroll data is provisional since the data generation is a continuous exercise, as updating employee records is a continuous process. The previous data hence gets updated every month.
The numbers of subscribers are from various sources and may contain elements of overlap. Therefore, the numbers cannot be added together to get a total count of workers in the organised sector.
SUBJECT Variables
EPF
Employees’ Provident Fund (EPF) scheme is the country’s principal organization responsible for providing social security benefits to the organized/semi-organized sector workforce covered under the statute of EPF & MP Act, 1952. It provides provident fund, pension benefits to the members on their retirement, and family pension and insurance benefits to their families in case of the untimely death of the member. EPF is applicable to establishments having more than 20 workers. The pay ceiling is Rs.15000/- per month. Persons drawing pay above Rs. 15,000 are exempted or can be enrolled with some permission or on a voluntary basis.
Net Subscribers
- 16.02 lakh subscribers were added to the retirement fund body Employees Provident Fund Organisation (EPFO) in Jan 2024, a 2.6% increase compared to the previous month.
- In 2022-23, 13.57 lakh net subscribers were added by EPFO, an 11% increase over 2021-22.
New Additions
- Of the total 16.02 lakh net subscribers added in Jan'24, 8.1 lakh new members have been enrolled under EPF & MP Act, 1952 for the first time, a 3.9% month-over-month decrease over Dec'23.
- In 2022-23, 1.15 crore new subscribers were enrolled under EPF & MP Act, 1952 for the first time, showing an increase for 2 continuous years.
Age-wise
- The age group of 18-21 years registered the highest number of net enrolments of 3.03 lakh net enrolments in Jan'24.
- The age group of 22-25 years registered 3.7 lakh additions during Jan'24.
- The age group of 18-25 years has contributed 56.4% of total net subscriber additions in Jan'24. Members of these age groups are usually fresh hands in the job market and signify a crucial stage for an individual’s potential in terms of earning capacity.
- In 2022-23, the age group of 18-21 years contributed 23.8% of total net subscriber additions, in comparison to 24.2% in 2021-22.
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