According the payroll data of the Employees
State Insurance Corporation (ESIC), nearly 2 crore jobs were created during the
period from September 2017 and December 2018.
The ESIC data is one of payroll numbers released
by the Central Statistics Office (CSO) in its reports. It is based on people
joining various social security schemes run by Employees Provident Fund
Organisation (EPFO) and Pension Fund Regulatory Development Authority (PFRDA).
Employee State Insurance scheme is an integrated
measure of social Insurance embodied in the Employees’ State Insurance Act, 1948.
The ESI Corporation extends health insurance and medical services to all those
establishment which have 20 or more workers and all those employees whose
monthly wages are up to Rs 21,000.
The EPFO covers all those firms that have 20 or
more employees. Workers whose basic wages are up to Rs 15,000 per month at the
time of joining the job are mandatorily covered under the scheme.
The PFRDA is the regulator of National Pension
Scheme. The NPS covers central and state government employees while others can
voluntarily subscribe to it.