Every major labour law reform raises an inevitable question: does it fundamentally alter workers' rights and employers' obligations, or does it simply reorganise an existing legal framework? That question lies at the heart of the Employees' Provident Fund Scheme, 2026, notified by the Centre on June 29 under the Code on Social Security, 2020.
Replacing the Employees' Provident Funds Scheme, 1952 after nearly seven decades, the new framework modernises provident fund administration through digital compliance, simplified reporting requirements and a clearer regulatory architecture.
Among other changes, it introduces a structured compliance framework for contract labour, expressly recognises voluntary provident fund contributions above the statutory wage ceiling, and places greater emphasis on digital administration.
At the same time, the Scheme retains the core features of the existing provident fund regime. Mandatory contribution rates remain unchanged at 12% each from employers and employees (10% for specified establishments), existing members continue without interruption, and the statutory wage ceiling remains 15,000 per month.
The mix of continuity and change raises an obvious question: how far does the new Scheme actually depart from the 1952 framework? Are its key provisions substantive legal reforms, or do they largely formalise positions that have already evolved through legislation, judicial decisions and administrative practice?
LawBeat spoke to leading labour...
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