The Pulse | Economy | South Asia

The Indian Government’s Job Statistics Are Misleading

Behind the surge in EPFO numbers lies an uncomfortable question: is Delhi measuring new jobs or merely recording existing workers differently?

The Indian government claims that the formal job market in the country is booming. It cites as proof payroll data from the Employees’ Provident Fund Organization (EPFO).

The Employees’ Provident Fund is a mandatory government-backed retirement savings scheme in India for salaried workers. The question, however, is: does a rising EPFO count really amount to more good jobs?

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The Indian government claims that the formal job market in the country is booming. It cites as proof payroll data from the Employees’ Provident Fund Organization (EPFO).

The Employees’ Provident Fund is a mandatory government-backed retirement savings scheme in India for salaried workers. The question, however, is: does a rising EPFO count really amount to more good jobs?

The official story goes as follows. The Economic Survey 2023-24 reported that net EPFO payroll additions more than doubled, from 6.11 million in FY2018-19 to 13.15 million. The survey called it “healthy growth in formal employment.” The Union Labor Ministry hailed it as a “growing formal employment landscape.”

The Indian government has now gone further and linked........

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