New EPF scheme: 10 questions on contributions, withdrawals & retirement savings
For most employees, the EPF Scheme, 2026 is not about starting afresh. Rather, it represents a transition to a modernised framework. (AI image) EPF Scheme
For most employees, the EPF Scheme, 2026 is not about starting afresh. Rather, it represents a transition to a modernised framework. (AI image) EPF Scheme 2026: Top 10 Questions Answered Here are 10 questions that many EPF subscribers are asking. 1. Do I need to open a new PF account under the EPF Scheme, 2026? 2. Has the PF contribution rate changed? Mandatory PF Contribution Structure 3. Has the wage ceiling increased? 4. I earn more than the wage ceiling.
Can I still contribute PF on my full salary? 5. Can I reduce or stop higher voluntary PF contributions later? Higher voluntary PF contributions 6. Does my employer have to match my extra PF contribution? Whether employer contributions are restricted to the statutory ceiling; Whether contributions are made on actual salary; Whether matching contributions apply to voluntary PF contributions; and The process for changing voluntary contribution elections. 7. Have PF partial withdrawal rules become easier?
Essential needs (including illness, education and marriage); Housing-related needs; and Special circumstances. 8. What happens if I resign or lose my job? 9. My company has its own PF trust. Does anything change for me? 10. Do I need to update my nominations and KYC details? Quick Guide: What should employees do now? 5 practical action points Existing PF accounts and balances continue without interruption 12% contribution structure remains broadly unchanged Employees can
continue making voluntary contributions above the statutory requirement The scheme expressly provides greater flexibility to reduce or discontinue additional voluntary contributions Employers are generally not required to match voluntary contributions made by employees Withdrawal rules have been simplified, but employees should carefully review revised conditions applicable to full and partial withdrawals Employees should review nominations, Aadhaar, PAN and other KYC details (The author, Puneet Gupta is Partner, People Advisory Services Tax at EY India)
The BriefWire