By | economictimes.indiatimes.com | Yogima Seth Sharma
Formal job creation under the Employees’ Provident Fund Organisation jumped by 24.5% in July to 1.82 million compared to 1.46 million added in July 2021 on the back of strong pick-up in economic activity.
The provisional payroll data of EPFO, released on Tuesday, however shows miniscule change in month-on-month jobs creation with July numbers nearly the same as June. EPFO had created 1.83 million formal jobs in June 2022, 1.68 million in May 2022 and 1.53 million in April.
Out of the total 1.82 million net subscribers added during the month, around 1.05 million new members have been enrolled under the social security cover of EPF & MP Act, 1952 for the first time, it said.