Form 15G For PF Withdrawal: Complete Guide To Downloading, Filling, And Avoiding TDS

The Employees’ Provident Fund (EPF) is designed to support employees’ long-term financial security, with both the employee and employer contributing 12% of the employee’s basic salary and dearness allowance each month. While you can withdraw your EPF balance in accordance with withdrawal rules, any amount over ₹50,000 taken within a financial year may attract Tax Deducted at Source (TDS) under Section 192A of the Income Tax Act.

If your total income falls below the taxable limit, you can prevent TDS deductions by submitting Form 15G. This form is a self-declaration stating that your income is not taxable, allowing you to receive the full withdrawal amount without deductions.

Understanding Form 15G for EPF

Form 15G is a declaration that prevents TDS from being applied to interest income from EPF, recurring deposits, or fixed deposits. It is available to individuals under 60 years of age and Hindu Undivided Families (HUFs). For those aged 60 and above, Form 15H serves the same purpose.

EPFO’s online portal now allows members to submit Form 15G digitally, streamlining the withdrawal process and ensuring faster access to funds without tax deductions.

When is Form 15G Required for EPF Withdrawal?

Under Section 192A of the Finance Act 2015, TDS is applicable when:

• The withdrawal amount exceeds ₹50,000.
• The employment period is less than five years.

TDS rates if Form 15G is not submitted:

• 10% if PAN is provided but Form 15G is not.
• 20% if neither PAN nor Form 15G is submitted.
• No TDS if Form 15G is submitted along with PAN.

Downloading Form 15G

You can access Form 15G free of cost from:

• The EPFO member portal.
• Official websites of major banks.
• The Income Tax Department’s website.

Filing and Submitting Form 15G Online

Step-by-step process:

1. Log in to the EPFO UAN Member Portal.
2. Go to Online Services and click Claim.
3. Verify your bank account by entering the account number.
4. Under “I want to apply for”, select the relevant option and upload Form 15G.

When filling the form, only Part I is required for PF withdrawal. Information to provide includes:

• Full name as per PAN card.
• Valid PAN number (fourth character must be ‘P’).
• Income tax status: ‘Individual’.
• Financial year for which exemption is claimed.
• Residential status as ‘Resident’.
• Address and PIN code (preferably from Aadhaar).
• Contact number and email address.
• Estimated withdrawal amount and total annual income.
• Details of other Form 15Gs submitted during the financial year.
• Income details linked to the declaration.

Double-check all information before submission, as errors may invalidate the form.

TDS Applicability Scenarios

TDS is not applicable if:

• EPF is transferred to another account.
• Service is terminated due to ill health or employer closure.
• Withdrawal happens after five years of continuous service.
• The amount withdrawn is less than ₹50,000.
• Form 15G or 15H is submitted along with PAN.

TDS applies if:

• Withdrawal exceeds ₹50,000 with less than five years of service and Form 15G is not provided.
• PAN is missing or not linked.

Tax-Free EPF Interest Limit

Interest earned on EPF contributions up to ₹2.5 lakh per financial year is exempt from tax. Any interest on contributions beyond this limit is taxable annually.

Form 15G is a valuable tool for avoiding unnecessary TDS deductions during PF withdrawals. However, providing false information is a punishable offence under Section 277 of the Income Tax Act, carrying fines or imprisonment. Always ensure your declaration is accurate and complete to remain compliant while maximising your EPF benefits.