Economy 31.1 lakh jobs created in formal sector between September 2017 to February 2018, says Niti Aayog Updated : April 27, 2018 08:41 AM IST Payroll reporting for the formal sector will facilitate analysis of new and continuing employment. 4.2 lakh new payrolls were generated from the New Pension Scheme (NPS) from Tier-I account alone. NPS currently manages the corpus of around 50 lakh employees in State and Central government. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.