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India generated 7.16 lakh jobs in December 2018, highest in the last 16 months: EPFO data

NDA government’s flagship employment scheme, the Pradhan Mantri Rozgar Protsahan Yojana (PMRPY), had crossed the magic numbers of one crore beneficiaries on 14 January 2019.

With the Indian job generation steadily escalating under the present government’s initiatives, the latest EPFO payroll data has revealed that India generated 7.16 lakh jobs in December 2018, reports Business Today.

This is also been recorded as the highest in the last sixteen months. Data revealed that between the month of September 2017 to December 2018, 72.32 lakh new subscribers were added to Employees’ Provident Fund Organisation (EPFO). This meant that these many new jobs were created in the organised sector of the Indian economy.

The Employees Provident Fund Organisation manages social security funds of workers in the organized/semi-organized sector in India. It has more than 6 crore active members (with an at least one-month contribution during the year).

The EPFO, under the Ministry of Statistics & Programme Implementation (MOSPI), releases employment-related statistics in using data on the number of beneficiaries enrolled under schemes like EPFO, ESIC and NPS. The data is provisional and subjected to periodic revision as updating of employees records is a continuous process and gets updated in subsequent months.

The central government under the governance of Narendra Modi seems to be walking the talk when it comes to creating more job opportunities in the country.

Launched by Prime Minister Narendra Modi on 7 August 2016, NDA government’s flagship employment scheme, the Pradhan Mantri Rozgar Protsahan Yojana (PMRPY), had crossed the magic numbers of one crore beneficiaries on 14 January 2019.

Under the PMRPY government encourages employers to hire more people and promote employment in the country.

Under the scheme, the government pays the entire employers’ contribution of twelve percent (towards both Employees’ Provident Fund and Employees’ Pension Scheme), for three years. These benefits are only applicable for new employees hired on or after 1 April 2016, registered with the EPFO and with salaries less than Rs 15,000 per month.

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OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

 

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