We introduce a data-driven epistatic model of protein evolution, capable of generating evolutionary trajectories spanning very different time scales reaching from individual mutations to diverged homologs. Our in silico evolution encompasses random nucleotide mutations, insertions and deletions, and models selection using a fitness landscape, which is inferred via a generative probabilistic model for protein families. We show that the proposed framework accurately reproduces the sequence statistics of both short-time (experimental) and long-time (natural) protein evolution, suggesting applicability also to relatively data-poor intermediate evolutionary time scales, which are currently inaccessible to evolution experiments. Our model uncovers a highly collective nature of epistasis, gradually changing the fitness effect of mutations in a diverging sequence context, rather than acting via strong interactions between individual mutations. This collective nature triggers the emergence of a long evolutionary time scale, separating fast mutational processes inside a given sequence context, from the slow evolution of the context itself. The model quantitatively reproduces epistatic phenomena such as contingency and entrenchment, as well as the loss of predictability in protein evolution observed in deep mutational scanning experiments of distant homologs. It thereby deepens our understanding of the interplay between mutation and selection in shaping protein diversity and functions, allows one to statistically forecast evolution, and challenges the prevailing independent-site models of protein evolution, which are unable to capture the fundamental importance of epistasis.