India EPF and EPS Scheme 2026 replaces older frameworks

The Central government has formally notified the Employees' Provident Fund (EPF) Scheme, 2026, and the Employees' Pension Scheme (EPS), 2026, replacing frameworks that have been in place for decades. Both new schemes came into effect on June 29, 2026, following their publication in the Gazette, as part of the implementation of the Code on Social Security, 2020.

For the approximately 8 crore active subscribers of the Employees' Provident Fund Organisation (EPFO), the core financial structure of their retirement savings remains unchanged. The mandatory contribution rate for both employees and employers stays at 12 percent of wages, with a reduced 10 percent rate continuing for certain notified establishments. The schemes clarify that any employee contribution exceeding a monthly cap of 1,800 rupees is considered voluntary, and employers are not obligated to match these voluntary amounts.

The primary changes are administrative and procedural, with a strong emphasis on digital transformation. The EPF Scheme, 2026, mandates electronic filings, online claim settlements, digital passbooks, and deeper integration with the Universal Account Number (UAN) to improve transparency and...