Job creation trebles in Feb at 8.61 lakh, according to EPFO payroll data

Last month, the EPFO payroll data had showed that as many as 29,023 members exited from its schemes in March 2018. In February 2019, the EPFO data had showed that as many as 5,498 members joined EPFO schemes in March 2018. On contraction in March 2018 numbers, the EPFO said, "March 2018 figure is negative due to large number of exits reported in the month of March, in view of it being the closing month of the financial year." The EPFO said the data is provisional as updation of employee records is a continuous process and gets updated in subsequent months. This is age-band wise data of new members registered under the EPFO where the first non-zero contribution received during a particular month. For each age-wise band, the estimates are net of the members newly enrolled, exited and rejoined during the month as per records of the EPFO, it added. The estimates may include temporary employees whose contributions may not be continuous for the entire year. Members' data are linked to unique Aadhaar Identity, it added. The EPFO manages social security funds of workers in the organised or semi-organised sector in India and has more than 6 crore active members (with at least one-month contribution during the year). ... DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: Deccan Chroniclehttps://www.openlearning.com/u/alibrand/about