Employees’ Deposit-Linked Insurance Scheme, 2026 Notified under the Social Security Code, 2020, effective from 29.06.26

The Ministry of Labour & Employment has notified the Employees’ Deposit- Linked Insurance Scheme, 2026 under the Social Security Code, 2020 (“Code”). The Scheme supersedes the Employees’ Deposit-Linked Insurance Scheme, 1976 while preserving actions taken and benefits accrued under the earlier schemes. Employees’ Deposit- Linked Insurance Scheme, 2026 applies to employees of establishments covered under Chapter III of the Code. The Scheme is effective from 29th June 2026.

Key Highlights:

1. Every employer must send to the Commissioner, by July,14 2026, a consolidated return, of the employees who are entitled and required to become members of the Insurance Scheme as per provisions of Employees’ Provident Funds Scheme, 2026. 

2. The employer must pay the contribution and administrative charges to the Insurance Fund through electronic mode within fifteen days of the close of every month through the PayGov platform, authorised for such collection and cost of remittance, if any, shall be borne by the employer. 

3. The employer will be responsible to pay the contribution payable by himself in respect of the employees directly employed by him and the employees employed by or through a contractor. 

4. The employer must not deduct the employer’s contribution payable by him under this scheme from the wages of the employees or to recover it from them in any other manner. 

5. In cases where an employer makes default in the payment of any contribution to the Insurance Fund or in the payment of any charges payable under the provisions of the Code or the rules framed thereunder the Commissioner or such officer as may be authorised by Central Government, in this behalf, may recover from the employer by way of penalty, damages at the rate and specified in the Employees’ Provident Funds Scheme, 2026.

6. Every employer must electronically upload, on the designated portal, the details of employees who qualified to become members of the Fund for the first time during the preceding month, as well as the details of employees who left the employer’s service during the preceding month, within fifteen days of the close of each month.

7. The employer of an establishment must maintain records and registers in the form and manner specified by the appropriate Government electronically or otherwise, containing such particulars and details with regard to persons employed, muster roll, wages and such other particulars and details pertaining to rules.

Source: Ministry of Labour & Employment