Bumper increase in employment, number of EPFO shareholders increased

Union Labor and Employment Minister Bhupendra Yadav said on Thursday that the country has seen a huge increase in employment opportunities in the last nine years and about 1.25 crore new jobs have been created during this period. Referring to several institution-based labor surveys conducted by his ministry, Yadav said that between 2014 and 2022, around 1.25 crore new jobs were created. He made this claim at a press conference organized to highlight the achievements of the Narendra Modi government in the last nine years. Citing the Employees’ Provident Fund Organization (EPFO) data, he said that if we look at the EPFO data, the financial year 2021 In -22, under the Employees Pension Scheme 1995, the number of pensioners has increased to 72 lakhs. Whereas in the financial year 2014-15 this number was 51 lakhs. Around 22 lakh people retired during this period but registration under the social security scheme run by EPFO increased.
Number of EPFO subscribers increased
The Labor Minister said that the total number of registered shareholders of EPFO was 15.84 crore in 2014-15, which increased to 27.73 crore in 2021-22. He also referred to the latest payroll data of EPFO released two days ago and said that in the month of April this year, 17.20 lakh new members joined the retirement fund body. He said that the National Career Service (NCS) portal helped in gathering information about 1.39 crore vacancies in the last nine years.
He said that under the leadership of Prime Minister Modi, we focused on three subjects ‘Service, Good Governance, Welfare’. When we talk about service and ‘Sabka Saath Sabka Vikas’, you get an idea that we have taken care of both organized and unorganized workers in the country. Organized workers constitute only 10 percent of the country’s total workforce, while 90 percent of workers are in the unorganized sector.
30 crore workers linked to e-labor portal
He said that the system of registration of workers working in the unorganized sector has been started on the e-Shram Portal and Jan Dhan Aadhaar Mobile (JAM) is being used. He told that so far about 30 crore workers associated with about 400 businesses have joined the e-Shram Portal. Referring to his ministry’s initiative regarding institution-based labor surveys, he said field-based survey results would be released soon, which would help in making evidence-based policies.