The latest provisional payroll data from the Employees’ State Insurance Corporation (ESIC) for April 2023 reveals a remarkable increase in the number of employees and establishments registered under the ESI Scheme. The data highlights the significant impact of the scheme in generating employment opportunities for the youth while promoting inclusivity by extending benefits to transgender employees. This article delves into the key findings of the data, emphasizing the scheme’s positive contributions to the workforce.
Surge in Employee Registrations: In April 2023, a staggering 17.88 lakh new employees were added to the ESI Scheme, signifying substantial growth in employment opportunities. This increase reflects the expanding reach and effectiveness of the scheme in providing social security benefits to workers across various sectors.
- Youth Empowerment: The data showcases a promising trend as the majority of new registrations, constituting 47% of the total employees, are young individuals below the age of 25. With 8.37 lakh young employees joining the ESI Scheme, it demonstrates the scheme’s pivotal role in fostering youth employment and supporting their well-being.
- Promoting Gender Equality: The gender-wise analysis of the payroll data reveals a positive trend in female employee enrollment. In April 2023 alone, 3.53 lakh net female members were added to the ESI Scheme, highlighting the increasing participation of women in the formal workforce. This development signifies a step towards achieving gender equality and empowerment in the labor market.
- Inclusivity and Support for Transgender Employees: ESIC’s commitment to inclusivity is evident in its efforts to extend benefits to marginalized communities. The data indicates that 63 transgender employees were registered under the ESI Scheme in April 2023. This step signifies the scheme’s dedication to ensuring that every section of society has access to social security and healthcare benefits.
Expansion of Coverage: Apart from the growth in employee registrations, the data reveals the registration of 30,249 new establishments under the ESI Scheme in April 2023. This expansion of coverage signifies the scheme’s efforts to encompass a wider range of employers and industries, thereby providing comprehensive social security to a larger workforce.