EPFO’s introduction of a unified Form 121 marks a significant shift in the tax exemption process for EPF withdrawals, effective from April 1, 2026. This new self-declaration form streamlines the claiming of TDS exemptions on both EPF withdrawals and interest income.
The changes aim to simplify compliance processes and enhance access for subscribers. By replacing Forms 15G and 15H with Form 121, the EPFO is responding to demands for more efficient digital services. Furthermore, the upcoming portal named E-PRAAPTI will allow members to trace and link old or inactive PF accounts without employer intervention.
Key facts:
- Form 121 will facilitate TDS exemption claims on EPF withdrawals.
- E-PRAAPTI will enable users to access legacy accounts and complete UAN seeding.
- The minimum pension under EPS-95 is currently set at ₹1,000 per month.
- Labour unions are advocating for a pension increase to ₹7,500.
- The government contributes over ₹950 crore annually to maintain the minimum pension.
Labour minister Mansukh Mandaviya stated, “The proposed portal, called E-PRAAPTI, will enable subscribers to access legacy accounts, update profiles and complete UAN seeding without any intervention by the employer.” Discussions regarding an increase in the minimum pension under EPS-95 are also underway. Officials have hinted that a decision could be announced soon.
The push for improved digital services reflects broader trends in governance and public service delivery. As these developments unfold, the impact on subscribers’ experiences with their provident funds will become clearer.
