New Delhi, July 9 -- A few news reports and social media posts recently claimed that the new Employees' Provident Funds (EPF) Scheme, 2026 has made provident fund contributions above Rs.1,800 a month voluntary. The impression was that employees can now reduce their PF deductions and take home a higher salary.

That, however, is not a new rule. It has always been the case.

On 29 June, the government notified three schemes under the Code on Social Security, 2020: the Employees' Provident Funds Scheme, 2026 (replacing the EPF Scheme, 1952), the Employees' Pension Scheme, 2026 (replacing the EPS, 1995), and the Employees' Deposit-Linked Insurance Scheme, 2026 (replacing the EDLI Scheme, 1976).

The notifications modernize the legal framework...