The pandemic had an affect on employment within the nation because the financial actions slowed down due to lockdown restrictions imposed by central in addition to states. (Reuters)
The pandemic had an affect on employment within the nation because the financial actions slowed down due to lockdown restrictions imposed by central in addition to states to comprise the unfold of lethal virus from March in 2020.
- PTI
- Last Updated:August 08, 2021, 12:50 IST
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A Parliamentary panel has requested the Ministry of Labour and Employment to use and reconcile the info and research carried out by credible businesses with that of retirement fund physique EPFO for depicting actual image of job loss within the nation particularly within the state of affairs like COVID-19 pandemic.
The pandemic had an affect on employment within the nation because the financial actions slowed down due to lockdown restrictions imposed by central in addition to states to comprise the unfold of lethal virus from March in 2020.
“…data and studies conducted by other reputed and credible agencies be taken into consideration by the Ministry and reconciled with the data collected/maintained by EPFO so as to depict an authentic and real picture of the rate of unemployment/loss of jobs in the wake of Covid-19 pandemic for initiating requisite corrective measures as and when warranted,” acknowledged Parliamentary Standing Committee on Labour in its twenty fifth report tabled in Parliament final week. It noticed that regardless of Covid-19 pandemic, internet EPFO payroll addition for 2020-21 was 77.08 lakh which is sort of at par with 2019-20 internet payroll addition of 78.58 lakh.
It additionally famous that there’s addition in internet payroll in every month of monetary 12 months 2020-21, aside from the months of April and May 2020 as most of the financial actions throughout these two months of 2020 have been at halt due to full lockdown measures put in place.
“However, the Committee’s attention has been drawn to a study conducted by the Azim Premji University according to which nearly half of the formal salaried workers moved into informal work either as self-employed (30 per cent), casual wage (10 per cent), informal salaried jobs (9 per cent) between late 2019 and late 2020.” It additionally acknowledged that the EPFO wants to play a extra progressive and proactive function, particularly with an enormous corpus fund at its disposal in mitigating the emergent wants of not solely the members registered with it however employees within the Unorganised sectors too throughout the Country throughout unprecedented disaster like Covid-19.
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