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about 4 mn jobs created in 7 months till march, says epfo's payroll data




as many as 3.936 million jobs were created during 7-month period ending march this year, as per the latest retirement fund body epfo's payroll data. according to the latest data, as many as 6,00,000 new jobs were created in the month of march this year, which is higher than 5,89,000 payrolls with th...



'expert services' see highest payroll additions: epfo data




more than half the payroll additions — interpreted as new formal jobs or informal jobs getting formalised — are in industries that provide ‘expert services’, data released by the employees’ provident fund organisation (epfo) shows. also read: maharashtra, gujarat, tamil nadu churn out over...



a good beginning: payroll data can benefit from more transparency




the union government last week released the first-ever estimate of payroll based on the employees’ provident fund organisation (epfo) subscription database. the data showed that 3.11 million new jobs were added in the formal economy between september 2017 and february 2018. the epfo manages social...



7 mn jobs created in 2017-18: niti helped ghosh & ghosh access epfo data




the study that claimed 7 million people would be added to the payroll in 2017-18 was triggered by the prime minister’s office (pmo), which had asked the niti aayog last october to give “quick indicators for direct or indirect reflections on employment data” to be able to arrive at “desired t...



around 600,000 jobs being created a month in formal sector in fy18: study




busting the theory that jobs are not being created in the formal sector, a new study has found that 590,000 jobs were generated every month until november in the current financial year. this means that seven million jobs will be created in the formal sector in 2017-18 if one expands the trend on a p...



payroll data indication of formal sector, not overall jobs in economy: govt




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 ...



are wages growing at faster rate than job creation? esic data unclear




the payroll count provided by the employees’ state insurance corporation (esic) last week failed to show any conclusive trend on job creation in the formal sector due to duplication band and various other discrepancies in the dataset. for the first time ever, last wednesday esic, along with employ...



7 mn jobs in fy18? an 'independent study' with government's hand-holding




the study that claimed 7 million people would be added to the payroll in 2017-18 was triggered by the prime minister’s office (pmo), which had asked the niti aayog last october to give “quick indicators for direct or indirect reflections on employment data” to be able to arrive at “desired t...



maharashtra, gujarat, tamil nadu churn out over half of formal jobs




more than half of the formal jobs created in india or informal jobs formalised in india are in three leading industrialised states of maharashtra, tamil nadu and gujarat, latest employees' provident fund organisation (epfo) data for seven months show. however, job creation in the national capital re...



epfo temporarily shuts aadhaar seeding portal after reports of data theft




confidential data from one of the aadhaar-seeding portals of the employees provident fund organisation (epfo) has been stolen by hackers, leading to a shutdown of the facility over a month ago. the incident came to light after the intelligence bureau (ib) informed the labour and employment ministry ...



30-40% of epfo data shoddily maintained: ghosh and ghosh told pmo




a presentation made by state bank of india chief economist soumya kanti ghosh and indian institute of management-bangalore professor pulak ghosh to the prime minister’s office (pmo) in january captured how subscriber data is shoddily maintained by the employees’ provident fund organisation (epfo...



epfo data shoddily maintained; 30-40% is unclean: what researchers told pmo




a presentation made by state bank of india chief economist soumya kanti ghosh and indian institute of management-bangalore professor pulak ghosh to the prime minister’s office (pmo) in january captured how subscriber data is shoddily maintained by the employees’ provident fund organisation (epfo...



epfo temporarily shuts aadhaar seeding portal after reports of data theft




confidential data of formal sector employees enrolled under the employees’ provident fund organisation (epfo) have been stolen by hackers, forcing it to temporarily shut the aadhaar-seeding portal. the intelligence bureau (ib) informed the labour and employment ministry in march about the data the...



govt starts monthly job data, may junk labour bureau's quarterly survey




the union government has begun the process to do away with the only official enterprise-based quarterly jobs survey and has started releasing monthly payroll data for employment in the formal sector. this is a part of the government’s efforts to overhaul official employment estimates. prime minist...



govt starts monthly job data, may junk labour bureau's quarterly survey




the union government has begun the process to do away with the only official enterprise-based quarterly jobs survey and has started releasing monthly payroll data for employment in the formal sector. this is a part of the government’s efforts to overhaul official employment estimates. prime minist...



over 80 mm epfo accounts have no birth date, 110 mn missing father's name




the government on monday said there are over 83.8 million epfo accounts which do not have date of birth of subscriber and in 110 million accounts, father's name of the members is missing. "there are certain accounts where details of the (epfo) subscribers including date of birth is not available in ...



epfo users may get an option to increase or decrease investments in etfs




the subscribers to the employees’ provident fund organisation (epfo) may soon get an option to increase or decrease investments in exchange-traded funds (etfs). the epfo also approved a plan to create a reserve fund for its equity investments to shield the subscribers from stock market volatility....



epfo likely to retain 8.65% interest for 50 million members in 2017-18




retirement fund body epfo is likely to retain 8.65 per cent interest rate on provident fund deposits for its about 50 million members for 2017-18 at its trustees' meet tomorrow, sources said. in order to maintain the 8.65 per cent interest this fiscal, the employees provident fund organisation (epfo...



now, you can get epf transferred to new employer automatically




the employees' provident fund organisation (epfo) has made transferring one’s provident fund from one employer to the other smooth and seamless. now, the funds will be automatically transferred when an employee changes jobs. all he needs to do is fill up a newly-introduced form-11. “all the new ...



epfo may pare investments in debt instruments as corporate bonds dry up




the portfolio managers of the employees’ provident fund organisation (epfo) have raised concerns over inadequate supply of corporate bonds in the market, which might lead to the epfo deviating from its investment pattern. “portfolio managers during performance review meetings had expressed conce...



budget 2018: unfair to judge me on demonetisation and gst only, says modi




countering the allegation that his government had reneged on the promise of creating 10 million jobs a year, prime minister narendra modi quoted a recent study showing seven million jobs had been created in the formal sector alone in the current financial year.  “this data of seven million jobs i...



now, epfo members can link aadhaar online with uan




retirement fund manager epfo has launched an online facility for its subscribers to link their 12-digit unique aadhaar number with their universal (portable pf) account number (uan) on eve of diwali.meeting the know your customers (kyc) norms by the employees' provident fund organisation (epfo) subs...



epfo likely to keep interest rate unchanged at 8.65% for 2017-18




retirement fund body epfo is expected to keep interest rate unchanged at 8.65 per cent on provident funds for its about 50 million members for 2017-18 at its trustees' meet on february 21, 2018, sources said. the employees provident fund organisation (epfo) has already sold exchange traded funds (et...



finmin raises questions on interest rate of 8.55% proposed by epfo




the finance ministry has raised questions over the employees’ provident fund organisation’s (epfo’s) recent decision to declare an interest rate of 8.55 per cent to around 200 million formal sector workers for 2017-18. in a letter to the labour and employment ministry on march 15, the finance ...



unemployment drops, but job growth falls short of expectations




one of the perks of the presidency is getting a sneak peek at the monthly job numbers before the public gets to see them. this came to mind this morning when donald trump, presumably after having seen the new data, boasted that “jobs in the u.s. are doing so well.”and while it’s true that the ...