Form 121 is a unified tax declaration form used by the EPF members to claim exemption from TDS on withdrawals exceeding Rs 50,000 when their total service is less than five years. It replaced Forms 15G and 15H from April 1, 2026. This form is only for resident individuals whose estimated total income for the financial year is below the taxable threshold. (File Photo)
Form 121 is a legal declaration that informs the EPFO that your total income for the year will not exceed the basic exemption limit. Under the Employees’ Provident Fund (EPF) rules, tax is generally deducted if you withdraw your PF balance before completing five years of continuous service. (File Photo)
If the withdrawal amount exceeds Rs 50,000, the EPFO must deduct rax at source. Nonetheless, if your total yearly income is not taxable, you can submit Form 121 to receive the full amount without any tax cut. (File Photo)
Who Is Eligible To Submit Form 121?
Not all EPF members are required to file this form. You can submit Form 12B if you meet certain eligibility conditions:
– You must be a resident individual.
– You estimated total tax liability for relevant tax year must be zero.
– your total income (including the PF withdrawal) must be less than the maximum amount not chargeable to tax.
– The form is applicable only for those who have not completed five years of continuous service. (File Photo)
How To File Form 121 For PF Withdrawal?
The EPFO has integrated Form 121 into the Unified Member Portal. You can complete the filing process digitally.
– Log In To Your Portal: Use your Universal Account Number (UAN) and password.
– Navigate To Online Services: Select the “Claim” section (Form 31, 19, 10C & 10D).
– Upload The Declaration: Before submitting the withdrawal request, look for the Form 121 upload option.
– Fill Part A: Provide your Permanent Account Number (PAN), Aadhar Details, and estimated total income.
– E-Sign: Use Aadhar-based OTP (One-Time Password) to sign the declaration. (File Photo)
The introduction of Form 121 simplified the process by removing age-based distinctions. Earlier, members had to choose between two different forms based on their age. (File Photo)
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