Index Sheet in Workbook

This vba code creates a new first sheet called index. Index sheet contains serial number and names with hyperlinks of the worksheets in the workbook.

Sub create_index()

' Creates a new sheet called index and 
' makes it the first sheet.
' This macro counts the number of sheet and 
' creates a hyperlink to the sheet and 
' places in index sheet

flg = 1

For Each varsheet In Worksheets
If varsheet.Name = "Index" Then
flg = 0
Exit For
End If
Next varsheet

If flg = 0 Then
MsgBox "Index Exists"
Else
MsgBox "Adding Index"
Worksheets.Add.Name = "Index"
'updated on 05/12
'Worksheets.Move before:=Worksheets(1) 
Worksheets("Index").Move before:=Worksheets(1)
sheetcnt = ActiveWorkbook.Sheets.Count

For i = 2 To sheetcnt
Sheets("Index").Select
j = i + 3
Range("E" & j) = i - 1
Range("F" & j) = Sheets(i).Name
Range("F" & j).Select
ActiveSheet.Hyperlinks.Add Anchor:=Selection, Address:="", SubAddress:="'" & _
Range("F" & j).Value & "'!A1"
Next i
End If

End Sub