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India's provident fund framework is entering a new chapter with the notification of the Employees' Provident Funds Scheme, 2026 under the Code on Social Security, 2020. Along with the new Employees' Pension Scheme, 2026 and Employees' Deposit-Linked Insurance Scheme, 2026, the new framework seeks to modernise India's social security architecture while preserving the core protections that employees have relied upon for decades.
The Centre has notified the Employees’ Provident Fund Scheme, 2026, retaining most of the core provisions—including the 12% contribution rate, eligibility norms and withdrawal framework—of the Employees’ Provident Fund Scheme, 1952, while aligning the provident fund framework with the Code on Social Security, 2020. The new scheme focuses on simplifying procedures, strengthening governance, expanding digital compliance and easing the transition to the labour codes. Most fundamental features of the EPF system, including contribution rates, eligibility and benefit structure, remain intact, offering continuity for both employers and employees.
The government has ratified 8.25 per cent rate of interest on employees' provident fund (EPF) deposits for 2025-26, which is likely to be credited to over seven crore contributing members this month, a source said on Thursday. EPFO provides the rate of interest on EPF after it gets ratified by the government through the finance ministry. The source told PTI that the finance ministry has given its concurrence to 8.25 per cent rate of interest fixed by Central Board of Trustees (CBT), the apex decision making body of the Employees' Provident Fund Organisation (EPFO).
The new labour code along with the central government rules has introduced several practical changes that are beneficial for employees. One such change is the removal of distinct rules for each central law. Now, all the regulations are combined into a single act, which simplifies things and makes it easier for employees to look up the relevant law and its rules. Moksha Bhat, Managing Partner, AP & Partners, told ET Wealth Online that the rules framed under the four labour codes, at a basic level, make it easier for employers to comply. Instead of having to navigate through different sets of rules for each Central Act, employers now have to refer to one set of Rules for each Code.
