Not every EPF member needs to submit form 15G for PF withdrawal. Form 15G is Mandatory only when your PF amount is more than 50,000 Rs but your total service is below 5 years.
Otherwise, you don’t need to submit form 15G.
If your PF amount is below 50,000 Rs you don’t need to submit form 15g, even if the total service is less than 5 years.
Likewise, if the total service is more than 5 years, then you don’t need to submit form 15G, even if the total PF amount is more than 50,000 Rs.
Form 15G is a self-declaration form to avoid TDS when your total income in a year is less than 2.5 Lakhs in a financial year.
If your annual net taxable income is above 2.5 Laksh you are not eligible to submit form 15g, in that case
- It is better to transfer your PF amount to a new company whenever you join
- Try to withdraw the PF advance amount for reasons like illness
What if I don’t submit form 15G?
In case an eligible EPF member fails to submit form 15G while withdrawing the EPF amount, two things can happen
- EPFO will reject your claim; If your PF claim gets rejected by the EPFO, you should reapply for the PF claim along with form 15g.
- They deduct 34% TDS from your PF withdrawal amount (if PAN is also not linked with your PF account), if PAN is linked to your UAN then 10% tax will be deducted.
Remember form 15G is required only for PF, for pension withdrawal form 15G is not required.
You will find the form 15G upload option only for PF claim form 19, not for pension claim form 10C.
Recommended:
- Sample filled form 15G for withdrawal.
- 13 Most commonly asked questions while filling form 15G for PF withdrawal.