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Payroll data indication of formal sector, not overall jobs in economy: Govt

There is duplication, the ministry said, between subscriber data of ESIC and EPFO, as employees are subscribed to the schemes administered by both bodies

payroll

The ministry of statistics and programme implementation (Mospi) has issued a consolidated report on payroll count, saying the data provided some perspective on jobs in the formal sector but not on the overall economy. The ministry cautioned analysts about a possible overlap among subscribers of the Employees' Provident Fund Organisation (EPFO), Employees' State Insurance Corporation (ESIC) and Pension Fund Regulatory and Development Authority (PFRDA), based on which the payroll estimates were established. "This is the first in the series of employment-related ...