The Employees’ State Insurance Corporation (ESIC) has experienced a substantial surge in membership, according to provisional payroll data released by the government for December 2023. The data underscores a positive trend in job creation and social security coverage, marking a significant milestone in the country’s labor landscape.
In December 2023 alone, ESIC added an impressive 18.86 lakh new members to its roster, reflecting a robust expansion in its reach. Alongside this surge in membership, approximately 23,347 new establishments were registered, expanding the social security umbrella of ESIC and ensuring more comprehensive coverage for employees across various sectors. This development underscores the government’s commitment to enhancing social security provisions for the workforce, a vital aspect of fostering inclusive growth and economic development.
Of particular note is the emphasis on youth employment evident in the data. Out of the total new registrations, a substantial 47% comprised individuals up to the age of 25 years, indicating a concerted effort to generate employment opportunities for the youth demographic. This focus on youth employment aligns with broader national objectives aimed at harnessing the demographic dividend and empowering the next generation of workers.
Moreover, the data highlights the increasing participation of women in the workforce, with a net enrolment of 3.59 lakh female members in December 2023. This underscores the importance of gender inclusivity in employment policies and reflects efforts to create a more gender-balanced workforce. Encouraging female workforce participation not only promotes economic empowerment but also contributes to overall social development.
In a notable inclusion, the data also reveals the registration of 47 transgender employees under the ESI Scheme in December. This underscores ESIC’s commitment to inclusivity and underscores the importance of providing social security benefits to every segment of society, irrespective of gender identity.
It’s crucial to note that the payroll data is provisional, given that data generation is an ongoing process. However, these preliminary figures offer valuable insights into the evolving dynamics of employment and social security coverage in the country. The robust growth witnessed in ESIC membership reflects positive momentum in the labor market, signaling resilience and adaptability amidst evolving economic conditions.