EPFO payroll data says 47 lakh new postings created in 10 months till June

New Delhi: In its recent payroll data, Retirement fund body Employees’ Provident Fund Organisation (EPFO) stated that as many as 47.13 lakh jobs were created during September 2017 to June this year, with the sixth month of the calendar year witnessing the highest enrolment with over seven lakh jobs.

However, the retirement body lowered its earlier estimate of new members enrolment by 12.38 per cent, from 44.74 lakh to 39.20 lakh for September 2017-May 2018 period.

According to the payroll data, for September-May, as many as 44.74 lakh new member were enrolled for its social security schemes to provide benefits, including provident fund, insurance and pension.

In June, the maximum number of enrolment of 2,53,466 were recorded in the age bracket of 18 to 21 years followed by 2,05,177 in 22 to 25 age group.

The data is provisional as updation of employees records is a continuous process and gets updated in subsequent months, the EPFO said in a statement.

It also stated that the estimates may include temporary employees, whose contributions may not be continuous for the entire year.

For each age-wise band, the estimates are net of the members enrolled and ceased during the month as per the EPFO records, it added.

The EPFO manages social security funds of workers in the organised/ semi organised sector. It runs three social security scheme Employees’ Provident Fund Scheme 1952, Employees’ Deposit Linked Scheme 1976 (EDLI) and Employees’ Pension Scheme 1995. It manages the accounts of over six crore members and a corpus of over Rs 10 lakh crore.

Earlier this year, the EPFO had started the practice of updating payroll data on its official portal. The body had also lowered its payroll data estimates earlier.

Youngsters rule the roost
In its survey on Indian coders, technology community website TechGig found that nearly 39 per cent coders learned to code at the age of 15-20 years, and more than 45 per cent programmers started coding between the age of 20-24 years. The resultant number equates to 84 per cent coders learning to code before they turn 24 years of age.

Another survey states that techies now prefer established companies to startups. The survey found that 30 per cent of coders want to work in IT firms, another 30 per cent want to work with established companies. Around 24 per cent of coders would want to work with startups and 16 per cent of respondents want to start their own venture.

In numbers
* Global aerospace giant Boeing recently said it will hire 1,500 more engineers to drive digital innovation at its engineering and technology centre in Bengaluru.

* German engineering major Siemens has stated that it will hire 4,000 people in India over the next two years, primarily to strengthen its research & development (R&D) centre and digital innovations.

* Tata Steel has hired 100 fresh graduates over the past year as it looks to diversify its product portfolio, support expansion and acquisitions. A report stated that around 700 white collar executives and about 500 blue collar workers will be employed in this year.

* At Vedanta, despite the Sterlite copper smelter shutdown in Thoothukudi, there are plans to ramp up production and revenue by 50 per cent in the next two years. It has hired 2,000 in the previous fiscal, including fresh engineering and management graduates, as well as from laterals.