EPFO Introduces Unified Form 121: New Rules for TDS Exemption on EPF Withdrawals
EPFO has introduced Form 121 from April 1, 2026, replacing Forms 15G and 15H to simplify TDS exemption on EPF withdrawals. The unified form applies to eligible subscribers with income below the taxable limit and features digital verification, UIN tracking, and faster processing.
The Employees' Provident Fund Organisation (EPFO) has introduced a major update to its tax declaration process with the rollout of Form 121, effective April 1, 2026. This new unified form replaces the earlier Form 15G and Form 15H, streamlining the process for EPF subscribers seeking exemption from Tax Deducted at Source (TDS) on withdrawals.
Simplified Tax Declaration System
Previously, EPF members had to choose between Form 15G and Form 15H based on age criteria. With Form 121, this distinction has been removed, offering a single, standardized solution for all eligible subscribers. The move aligns with provisions under the Income Tax Act 2025 and aims to reduce confusion while improving compliance. EPFO PF Withdrawal Rules 2026: Know When and How You Can Access Your Savings Easily.
Eligibility for Form 121
Form 121 is designed for EPF subscribers whose annual income falls below the taxable limit and who wish to avoid TDS deductions, typically set at 10% or higher. It is not mandatory for all users. Individuals falling within taxable income brackets will continue to be taxed as per existing rules.
Digital Features and UIN Tracking
To enhance transparency, each Form 121 submission will now receive a Unique Identification Number (UIN), linking it to the financial year and the employer’s TAN. The updated system includes auto-fill features, real-time verification, and integration with tax databases, making the filing process faster and more accurate. EPFO Update 2026: How To Correct PF Account Errors Online via UAN Portal Without Office Visit.
Transition Guidelines
EPFO has provided a transition window for users still submitting Forms 15G or 15H. Such applications will not be rejected outright but may require resubmission using Form 121.
Subscribers planning EPF withdrawals are advised to verify their tax eligibility and ensure proper documentation to avoid unnecessary TDS deductions.
(The above story first appeared on LatestLY on Apr 18, 2026 06:12 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).