Formal contractual workers set to hit 10 million by 2030
Financial Express Mumbai|March 11, 2024
THE NUMBER OF flexi or "formal contractual workers" in India, employed by staffing companies, is expected to reach 10 million by the end of 2030 from 55.5 million at present, as there is a huge demand for such workforce, said Lohit Bhatia, president, Indian Staffing Federation (ISF).
PRIYANSH VERMA
Formal contractual workers set to hit 10 million by 2030

Flexi employees are workers who are hired for a particular period of time and get the benefits of social security, standard wages, legal compliances, registration under the EPFO etc. They are different from gig workers, who may not necessarily be getting| such benefits.

The flexi employees are considered formal contractual employees, who are one party in a legally bound tripartite agreement between the principal employer, the staffing company and the worker. The principal employer gets into an agreement with a staffing company to hire flexi workers, who would be suitable to perform a particular role as per the requirement of the principal employer.

As per the agreement, the staffing company is the employer of the flexi worker, and is responsible for providing them the legal benefits.

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