Light news day. Four items today, back to five or more when the cycle picks up.
Lead
Compliance
Employees Provident Fund Scheme 2026 takes effect, replaces the 1952 scheme
The Employees Provident Fund Scheme 2026 came into force on 29 June, replacing the 1952 scheme and aligning provident fund rules with the Code on Social Security, 2020. Contribution stays at 12 per cent each from employee and employer, with a reduced 10 per cent rate for certain notified establishments. Members can make partial withdrawals for medical treatment, education, marriage and housing, subject to minimum balance rules. Filings, claims, e-passbooks and UAN linkage move further online. For an SME, the day to day mechanics of running PF are the same, but the governing rulebook has changed.
More this week
Government
ESI to add seven hospital and dispensary projects worth about Rs 668 crore
The Union labour minister is set to unveil seven ESI Corporation projects worth about Rs 668 crore. They cover hospitals and dispensaries across Telangana, Assam, Tamil Nadu, Andhra Pradesh, Gujarat and Rajasthan, including a 200 bed hospital in Beltola and a 100 bed hospital in Sriperumbudur. ESIC puts the reach at around 53 lakh beneficiaries. For SMEs, ESI is the cover they deduct for staff earning up to Rs 21,000, so this is where those contributions land.
Source: IANS
12 July 2026
Hiring
White collar hiring rose 6 per cent in June on the Naukri JobSpeak index
White collar hiring rose 6 per cent in June from a year earlier on the Naukri JobSpeak index, which climbed to 3,027 from 2,854. AI and machine learning roles led at 25 per cent growth. Insurance rose 16 per cent, while banking and financial services fell 12 per cent and education slipped 4 per cent. Fresher hiring, zero to three years, was up 8 per cent. The read for smaller employers is patchy. Demand is real in AI and insurance, thinner in BFSI.
Research
foundit tracker shows online recruitment fell 9 per cent in June
A second index points the other way. foundit's tracker showed online recruitment down 9 per cent in June from a year earlier, and down 5 per cent on the month. Travel and tourism rose 35 per cent and medical roles 21 per cent, but IT services fell 18 per cent and retail 18 per cent. Only nine of 26 industries grew. The gap with Naukri comes down to method and sample. For an SME reading the market, hiring looks sector by sector, not uniformly up or down.
Note on sources. The Provident Fund item is from a government site. The hiring reads come from the Naukri and foundit indices as reported by a trade outlet, because the main Indian business mastheads could not be opened during curation. Swap in an Economic Times, Mint or Business Standard link if you prefer a masthead citation.