New Delhi, 02 July (H.S.): The Central Government has notified the Employees' Provident Fund (EPF) Scheme, 2026, bringing into effect a new regulatory framework for provident fund administration from June 29. The scheme, administered by the Employees' Provident Fund Organisation (EPFO), replaces the Employees' Provident Fund Scheme, 1952.

The Ministry of Labour and Employment notified the Employees' Provident Fund Scheme, 2026, the Employees' Pension Scheme, 2026, and the Employees' Deposit-Linked Insurance Scheme, 2026, under the Code on Social Security. The new social security framework places special emphasis on digital compliance and the timely settlement of claims, including provident fund withdrawals and pension determination.

According to the Ministry, the new scheme aims to strengthen digital compliance, improve administrative efficiency, simplify the transfer of provident fund accounts and align the EPF framework with the provisions of the new labour code.

The mandatory EPF contribution will remain unchanged at 12 per cent of wages each from both the employee and the employer. For establishments notified by the Central Government that currently fall under the reduced contribution category, the existing contribution rate of 10 per cent will continue to apply.

The Ministry said the EPFO will prioritise digital compliance and ensure the time-bound disposal of claims under the new social security framework. The reforms are intended to streamline services and improve the overall efficiency of provident fund administration.

The updated scheme also revises the rules governing partial withdrawals from provident fund accounts. To enhance transparency and improve fund management, it promotes electronic filing, online claim processing, e-passbooks and wider integration with the Universal Account Number (UAN) system.

With the implementation of the new framework under the Code on Social Security, the previous system established under the 1952 scheme has been replaced from June 29. Under the revised provisions, eligible salaried employees will be able to withdraw up to 100 per cent of the permissible 75 per cent amount from their provident fund accounts for specified purposes, including medical treatment, education, marriage and housing needs.

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Hindusthan Samachar / Jun Sarkar