On the occasion of the 74th Foundation Day of the Employees’ Provident Fund Organisation (EPFO), which is celebrated on 1 November every year, the Ministry of Labour & Employment organised the “EPFO Foundation Day Quiz 2026” in collaboration with MyGov. The winners of the quiz will be felicitated at a function in New Delhi on Sunday.
The quiz was conducted from 13 to 23 October 2026 and drew 8,584 participants from across India. It aimed to create awareness regarding EPFO’s schemes and services, including the Employees’ Provident Fund Scheme, 2026, the Employees’ Pension Scheme, 2026, PMVBRY and Vishwas 2026.
In a blog post, MyGov announced that all participants would receive e-certificates and added, “EPFO and MyGov extend their appreciation to all participants for their enthusiastic participation and look forward to their continued engagement in future MyGov activities.”
The quiz focused on four EPFO schemes and initiatives aimed at supporting employees and employers. Here’s a closer look at each.
According to an official release, the new EPF 2026 scheme, launched under the Code on Social Security, 2020, replaced the erstwhile Employees’ Provident Fund Scheme. The EPF 2026 scheme enables members to build their retirement savings through contributions and accrued interest. It also permits members to make partial withdrawals from their savings for specified purposes, including housing, higher education, marriage, and medical treatment, subject to prescribed conditions.
The erstwhile Employees’ Pension Scheme, 1995, was replaced by the new EPS 2026 under the Code. EPS 2026 provides monthly pension benefits to eligible members on superannuation, retirement, or disability. Further, it gives pension benefits to eligible dependants of deceased members, including spouses, children, and other eligible family members.
The Pradhan Mantri Viksit Bharat Rojgar Yojana (PMVBRY) encourages formal employment by offering incentives to eligible first-time employees and employers creating additional jobs. According to a release, PMVBRY “reinforces the national priority by encouraging first-time employment and supporting job creation. Through a transparent, Employees’ Provident Fund Organisation (EPFO)- administered framework, it strengthens workforce formalisation while creating opportunities for both employees and employers.”
Announced in August 2025 with a budget of ₹99,446 crore, the scheme covers two years from 1 August 2025 to 31 July 2027. It aims to create jobs for over 3.5 crore people, including 1.92 crore first-time employees, by encouraging young workers to register with EPFO and join the organised sector. In terms of incentives, PMVBRY offers the following:
a. First-time employees earning up to ₹1 lakh a month can receive a one-time payment equal to one month’s EPF wage, subject to a maximum of ₹15,000. The amount is released in two instalments, the first after six months of service and the second after 12 months of continuous employment and completion of a financial literacy programme.
b. The scheme also offers benefits to employers, who can receive up to ₹3,000 a month for two years for each eligible additional employee earning up to ₹1 lakh a month and retained for at least six months.
It is a one-time settlement scheme for employers, launched by EPFO to resolve eligible disputes over damages or penalties for delayed provident fund contributions. It aims to reduce litigation and encourage employers to regularise compliance. It covers four categories of cases:
– Cases where orders for penalties or damages are under challenge before a judicial forum;
– Final damages or penalty orders where recovery is pending or has been only partly made, including Recovery Certificate (RRC) cases;
– Cases where notices have been issued but final orders for damages or penalties are yet to be passed; and
– Cases where notices for penalties or damages are yet to be issued.