Employees’ Deposit Linked Insurance Scheme, 2026 – Gazette Notification No. G.S.R. 526(E) dated 29.06.2026

Employees’ Deposit Linked Insurance Scheme, 2026 – Gazette Notification No. G.S.R. 526(E) dated 29.06.2026 issued by Ministry of Labour and Employment

MINISTRY OF LABOUR AND EMPLOYMENT
NOTIFICATION
New Delhi, the 29th June, 2026

G.S.R. 526(E).— In exercise of the powers conferred by clause (c) of sub-section (1) of section 15 of the Code on Social Security (36 of 2020) and in supersession of the Employees’ Deposit-Linked Insurance Scheme, 1976, except as respects things done or omitted to be done before such supersession, the Central Government hereby makes the following Scheme, namely: –

1. Short title, commencement and application. -(1) This scheme may be called the Employees’ Deposit Linked Insurance Scheme, 2026.

(2) It shall come into force on the date of its publication in the Official Gazette.

(3) Subject to the provisions of sections 20 and 143 of the Code on Social Security, 2020, this scheme shall apply to employees of every establishment to which Chapter III of the said Code applies.

2. Definitions.- (1) In this scheme, unless the context otherwise requires –

(a) “Code” means the Code on Social Security, 2020 (36 of 2020);

(b) “assurance benefit” means a payment linked to the average balance in the Provident Fund Account of an employee, payable in the event of death of the employee while being a member of the Provident Fund;

(c) “Insurance Policy” means a Group Insurance policy issued by an Insurance Service Provider;

(d) “Commissioner” means the Central Provident Fund Commissioner, Additional Central Provident Fund Commissioner, Deputy Provident Fund Commissioner, Regional Provident Fund Commissioner and Assistant Provident Fund Commissioner appointed under section 14 of the Code;

(e) “member” means a member of the Employees’ Provident Funds Scheme, 2026 or of a Provident Fund exempted under section 143 of the Code, who is required to become a member of this scheme;

(f) “nominee” means a person nominated in paragraph 46 of the Employees’ Provident Funds Scheme, 2026;

(2) All words and expressions used herein but not defined shall have the meaning respectively assigned to them in the Code or the rules framed thereunder or the Employees’ Provident Funds Scheme, 2026.

3. Administrative and financial powers of Commissioner.- The Commissioner may, without reference to the Central Board, sanction expenditure on contingencies, supplies and services and purchase of articles required for administration of the Insurance Fund, subject to financial provision in the budget and the limits up to which the Commissioner may be authorised to sanction expenditure on any single item.

4. Applications of provisions of Employees’ Provident Funds Scheme, 2026.- With regard to matters for which there is either no provision or inadequate provisions in this scheme, the provision of the Employees’ Provident Funds Scheme, 2026, shall apply.

5. Contribution. – (1) The contribution payable by the employer under clause (c) of sub-section (1) of section 16 of the Code to the Deposit Linked Insurance Fund, shall be calculated on the basis of the wages as defined in clause (88) of section 2 of the Code, subject to the wage ceiling specified in clause (89) of section 2 of the Code.

(2) The rate of contribution shall be notified by the Central Government in consultation with the Central Board from time to time taking into account the actuarial valuation of the Insurance Fund.

(3) Each contribution shall be calculated to the nearest rupee, fifty paise or more to be counted as the next higher rupee and fraction of a rupee less than fifty paise to be ignored.

6. Mode of payment of contribution. – (1) The employer shall, within fifteen days of the close of every month pay the contribution and administrative charges to the Insurance Fund through electronic mode (including digital payment) of agency banks listed with the Reserve Bank of India or scheduled banks or payment gateway or through the PayGov platform, authorised for such collection and cost of remittance, if any, shall be borne by the employer.

(2) The employer shall 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.

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