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CURRENT AFFAIRS JUNE 04 According to the Employees Provident Fund Organisation (EPFO) payroll reporting data analysis released in May 2023, 1.39 core people found new formal jobs in India in FY23.

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What is fresh formal job creation?

Fresh formal job creation refers to the process of generating new employment opportunities that are documented and recognized by formal labor regulations and institutions. It typically involves the establishment of new positions within businesses or organizations that adhere to legal employment standards.

Who is required to file fresh formal job creation?

Employers, particularly those creating new positions or expanding their workforce, are required to file fresh formal job creation. This includes businesses in various sectors that wish to report new job openings to regulatory authorities.

How to fill out fresh formal job creation?

To fill out fresh formal job creation, employers need to complete a designated form that includes details about the job positions being created, such as job title, description, required qualifications, and compensation. This form should also include information about the employer and may need to be submitted to relevant governmental or labor organizations.

What is the purpose of fresh formal job creation?

The purpose of fresh formal job creation is to promote transparency in the labor market, ensure workers have access to legitimate job opportunities, and support economic growth by documenting the expansion of the workforce.

What information must be reported on fresh formal job creation?

Information that must be reported includes the job title, description, qualifications, salary, benefits, and the total number of positions being created. Additionally, employer identification details and any relevant industry classifications may also be required.

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