Form 15G is mandatory only when your PF withdrawal is above 50,000 Rs but total service is below 5 years. If total service is above 5 years, no need to submit form 15G even the PF withdrawal is more than 50,000.
Example:
Know Whether You Should Submit Form 15G for PF or Not
- Ravi has a 50,000 Rs in his PF account but his total service is 3 years only, then he should submit form 15G.
- Kishore has a 50,000 Rs in PF account but his total service is above 5 years, then he don’t need to submit form 15G.
What Happens If You Don’t Submit Form 15G for a PF Withdrawal Above 50,000 Rs
- 10% TDS will be deducted from your PF account
- Sometimes EPFO rejects your claim and asks you to reapply by submitting form 15G.
Do I Need to Submit Form 15g for PF Withdrawal above 50,000 Rs If My Service is Less than 5 Years?
Yes, you should submit form 15G for PF withdrawal above 50,000 Rs if your service is less than 5 years.
Is Form 15G Applicable for a PF Claim ABove 50,000 Rs for Senior Citizens
As a senior citizen you should submit form 15H instead of form 15G if your PF withdrawal is more than 50,000 Rs in less than 5 years of service.
Download EPF circular about TDS on PF withdrawal more than 50,000 Rs
