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Net payroll addition cruises after falling for two months, shows data

Net payroll addition rose to 12.5 trillion in December from 8.7 trillion in the previous month

Topics
Payroll data | Payroll | Indian Economy

Indivjal Dhasmana  |  New Delhi 

Net payroll addition cruises after falling for two months, shows data
Many consider net payroll addition an indicator of job creation, but there is an overlap between EPF, National Pension System, and Employees’ State Insurance Corporation numbers

Formalisation of the economy gathered pace in December, after dipping in October and November in the current fiscal year. Net addition rose to 12.5 trillion in December from 8.7 trillion in the previous month.

Net addition or net addition to the subscriber base of employees’ provident fund (EPF) in December was, however, a bit less than the September number when the lockdown was lifted from most areas. Many consider net addition an indicator of job creation, but there is an overlap between EPF, National Pension System, and Employees’ State Insurance Corporation numbers. There are multiple changes in EPF numbers so it is better to consider it as formalisation of the economy.

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First Published: Sun, February 21 2021. 23:14 IST
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