- Form 121 replaces Forms 15G/15H for EPF TDS.
- This new form simplifies documentation, effective April 2026.
- It declares no tax liability, but differs from tax exemption.
If you are planning to withdraw from your Employees’ Provident Fund (EPF) account in the coming months, the paperwork you need to avoid tax being deducted at source (TDS) is no longer the same. The Employees’ Provident Fund Organisation (EPFO) has informed members that Form 121 now replaces Forms 15G and 15H for eligible individuals seeking relief from TDS, including on eligible provident fund withdrawals. The change took effect on 1 April 2026 and applies from financial year 2026-27.
EPFO: Form 121 Replaces 15G, 15H From 1 April 2026
The change is one of documentation. The new form is meant to simplify the process by removing the need for different declarations depending on a member’s age.
Until now, individuals below 60 who met the prescribed conditions filed Form 15G to ask for no TDS to be deducted, while eligible senior citizens filed Form 15H. Under the revised framework, a single declaration, Form 121, covers both.
Through it, a member declares that their estimated total income for the financial year will not result in any tax liability, subject to the conditions prescribed under the relevant income tax provisions. The form is expected to make compliance more straightforward for eligible taxpayers.
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TDS Relief Is Not the Same as Tax Exemption
The new form should not be read as a signal that provident fund withdrawals have become tax-free. Members must still meet the applicable eligibility conditions to claim relief from TDS, and submitting Form 121 does not guarantee exemption if those conditions are not met.
There is also a difference between avoiding TDS and avoiding tax. How a PF withdrawal is treated depends on factors such as the circumstances of the withdrawal, the period of service and the applicable income tax rules. If a withdrawal is taxable, an ineligible or incorrect declaration will not remove the tax obligation.
Form 121 Eligibility: Who Can Claim TDS Relief on EPF
The form is intended for individuals who qualify under the relevant tax provisions and whose estimated tax liability meets the prescribed criteria. Before filing, members should estimate their income for the year and check it against the eligibility requirements, along with the conditions governing TDS on PF withdrawals.
Form 121 Valid Only for One Financial Year
The declaration applies only to the tax year in which it is submitted. A member who wants relief in a later year will need to file a fresh form, provided they still meet the criteria.
That makes the timing of a withdrawal worth some thought. Members are advised to review their tax position beforehand and to make sure the correct form is submitted for the relevant year.
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Before You Withdraw EPF: Check Income, Eligibility, EPFO Rules
For members, the practical step is to check the latest EPFO instructions and the applicable income tax provisions before relying on Form 121 to avoid TDS on their withdrawal.
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