What is EPF?
The Employees’ Provident Fund (EPF) is a mandatory retirement savings scheme for eligible employees working in establishments covered under the EPF & MP Act, 1952. Both the employer and employee contribute to the employee’s provident fund account every month.
What’s New?
The Ministry of Labour & Employment has notified the Employees’ Provident Funds Scheme, 2026 under the Code on Social Security. The new scheme modernizes EPF administration by introducing updated provisions relating to employee enrolment, contributions, withdrawals, nominations, and digital record management.
EPFO also continues to promote paperless services through Aadhaar-linked Universal Account Numbers (UAN), online claim settlement, digital KYC, and electronic compliance.
Who is Affected?
- Employers registered under EPF.
- Employees eligible for EPF membership.
- HR, Payroll, and Compliance professionals responsible for statutory filings.
What Employers Should Do
- Ensure all eligible employees are enrolled in EPF.
- Complete Aadhaar, PAN, and bank account KYC for every employee.
- File the Electronic Challan-cum-Return (ECR) before the due date every month.
- Deposit employer and employee PF contributions on time.
- Keep employee records and nominations updated in the EPFO portal.
Why Compliance Matters
Failure to comply with EPF provisions may result in interest, damages, penalties, inspections, and legal action. Regular compliance helps organizations avoid disputes and ensures employees receive their social security benefits without delay.