The Ministry of Labour & Employment has notified three new Central Schemes under the Code on Social Security, 2020, replacing the Employees’ Provident Funds Scheme, 1952, the Employees’ Pension Scheme, 1995, and the Employees’ Deposit-Linked Insurance Scheme, 1976 in their entirety.
Effective dates (per the Gazette of India):
– Employees’ Provident Funds Scheme, 2026 — effective 1 July 2026
– Employees’ Pension Scheme, 2026 — effective 30 June 2026
– Employees’ Deposit-Linked Insurance Scheme, 2026 — effective 30 June 2026
In brief, this is largely continuity legislation — contribution rates, the wage ceiling, and pension mechanics are carried forward unchanged. The material changes are procedural: mandatory Aadhaar/UAN-linked digital compliance, a materially reduced damages structure for defaults, IW provisions clarity, New set of Monthly governance returns.