Why only 10% of unicorn jobs are in the formal sector3 min read . Updated: 01 Jun 2022, 12:54 AM IST
India’s 100 unicorns provide formal sector employment to about 272,000. While this number has grown briskly in the last two years, it’s a small fraction of overall corporate employment and also what these unicorns employ via the informal sector.
When it comes to employment, the 100 Indian companies that have ever been unicorns are more about the informal sector than the formal sector. Their regulatory filings with the Employees’ Provident Fund Organization (EPFO) show they deposited provident fund for about 272,000 employees in India this March, about a tenth of the total number of jobs they have created.
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