Pursuant to the new labor codes in India, the government has notified has the following new social security schemes:

(i)    Employees’ Provident Funds Scheme, 2026 (“Provident Fund Scheme 2026“)

(ii)   Employees’ Pension Scheme, 2026 (“Pension Scheme 2026“)

(iii)  Employees’ Deposit-Linked Insurance Scheme, 2026 (“Insurance Scheme 2026“).

These schemes are notified based on section 15 of the Code on Social Security, 2020 (“SS Code“) and have come into force on July 1, 2026.

i.     Provident Fund Scheme 2026: This scheme supersedes and replaces the Employees’ Provident Funds Scheme, 1952. The Provident Fund Scheme 2026 provides for employer’s contribution to provident fund for eligible employees on a monthly basis based on a specified percentage at the rate of 12% of the employee’s wages (of which 8.33% is divert   ed to the employee’s pension fund under the Pension Scheme 2026, as described below). An equal contribution of 12% is made by the employee which goes entirely to the employee’s provident fund account. A reduced contribution rate of 10% may be applied to such classes of establishments as may be notified by the Central Government.. The EPF Scheme 2026 introduces special provisions such as:

(a)   the Employees’ Enrolment Campaign, 2026 (applicable until October 31, 2026), which permits the employer to enroll employees who have joined between April 1, 2009, and March 31, 2026 but were not previously enrolled, subject to specified conditions.

(b)   ‘VISHWAS 2026’, which provides for revised percentage of damages ranging from 0.25% to 1% of arrears per month for any default in provident fund contribution prior to June 14, 2024. The provisions apply to select categories of cases in respect of damages where: (a) an order has been issued and is under dispute before any judicial forum; (b) an order has been issued and the amount is yet to be recovered; (c) a notice has been issued and the final order is yet to be passed; or (d) a notice is yet to be issued. This facility is valid for six months.

(c)   ‘AMNESTY 2026’, which grants retrospective exemption for applicable categories of establishments operating provident fund trusts without formal exemption notifications. It applies both to establishments that have already shifted to compliance as un‑exempted entities (Category–I) and those opting to continue as exempted establishments under the Code (Category–II). This facility is valid for six months, unless extended.

It is pertinent to note that the Provident Fund Scheme 2026 retains provisions for expats (international workers) employed in India, which matter is currently being litigated at the Supreme Court.

ii.     Pension Scheme 2026: This scheme supersedes and replaces the Employees’ Family Pension Scheme, 1971 and the Employees’ Pension Scheme, 1995. The employer is required to make pension contributions for eligible employees at 8.33% of the employee’s wages up to the wage ceiling to the pension fund, while the government contributes 1.16% of the wages of members. Pension payments are made to members under the scheme upon inter alia (a) attaining the age of superannuation (having rendered at least 10 years of eligible service); (b) early retirement after attaining 50 years of age (subject to a reduction of 4% for every year falling short of superannuation age), having rendered at least 10 years of eligible service; (c) deferral of pension up to 60 years of age (with an increase of 4% for every completed year of deferral); (d) permanent and total disablement during service (subject to a minimum of one month’s contribution); and (e) death of the member while in service or thereafter.

iii.  Insurance Scheme 2026: This scheme supersedes and replaces the Employees’ Deposit-Linked Insurance Scheme, 1976. It provides for an assurance benefit payable to the nominee or eligible beneficiary in the event of death of an employee while in service. The assurance benefit is linked to the average balance in the provident fund account of the deceased employee during the preceding 12 months, with such average balance being capped at INR 175,000 for the purpose of computation. The overall assurance benefit is subject to a minimum of INR 250,000 and a maximum of INR 700,000.

It is important to know that by way of a notification dated May 29, 2026, the government has retained the employee wage limit of Rs. 15,000.