ESIC Sees 5.79% Surge in Formal Job Creation in March, Youth and Women Drive Growth

Formal employment under the Employees’ State Insurance Corporation (ESIC) rose sharply in March. New job creation increased by 5.79%, reaching 1.63 million, up from 1.54 million in February, according to provisional payroll data released by the Ministry of Labour and Employment on Friday.

The data also showed a 33.9% jump in new establishments joining the ESIC. A total of 31,514 new units registered in March, compared to 23,526 in February, as reported by The Economic Times.

Youth employment remained a key factor, with 0.79 million, or 49%, of the new registrations coming from individuals aged 25 years or younger. Female participation improved, with 0.36 million women registering during the month. The ESIC also recorded 100 transgender employees, reinforcing its focus on inclusivity.

The data remains provisional, as payroll numbers are subject to continuous updates.

The ESIC, set up under the ESI Act of 1948, is a key social security body along with the Employees’ Provident Fund Organisation. It offers medical and cash benefits to employees earning up to ₹21,000 per month.

A 4% contribution funds the scheme—0.75% from employees and 3.25% from employers.

Registered members receive a range of benefits. These include medical care for themselves and their families, maternity benefits, unemployment support, and compensation for job-related injury or death, including family pensions.

Also Read: Centre Reopens PLI Scheme for 11 Drug Products to Boost Domestic Manufacturing