Bachchan replaces the late Rishi Kapoor who was due to star in the project alongside Padukone, but died in 2020.
Directed by Nancy Meyers, The Intern (2015) collected US$194mil globally.
Bachchan and Padukone will play the roles enacted by Anne Hathaway and Robert De Niro in the original.
The film will be directed by Amit Ravindernath Sharma, whose previous film Badhaai Ho (2018) was a hit with US$39mil worldwide.
The Intern is part of an ongoing agreement between Warner and another Kheterpal entity, Azure Entertainment, to identify, develop, produce and distribute Warner titles for Indian audiences. Another upcoming collaboration under the deal is an Indian version of Hong Kong's Infernal Affairs film trilogy upon which Warner's The Departed, directed by Martin Scorsese, was also based.
In 2019, Azure enjoyed box office success with Badla, a remake of 2016 Spanish hit The Invisible Guest. It was co-produced with Shah Rukh Khan's Red Chillies Entertainment, and starred Bachchan and Tapsee Pannu. The company is also working on other remakes, including Thai hit Bad Genius and French film A Gang Story. – Reuters