How to Download Form 15G for PF Withdrawal

What is Form 15G?

Form 15G is a self-declaration form that you can submit to your bank or financial institution to ensure that no TDS (Tax Deducted at Source) is deducted from your interest income. This form is particularly useful for individuals whose total income is below the taxable limit. Essentially, by submitting this form, you declare that your income is below the threshold and request that no tax be deducted from your interest income.

What is Form 15G for PF Withdrawal

When you withdraw money from your Employees’ Provident Fund (EPF) before completing five continuous years of service, you have to go through TDS. If your withdrawal amount touches or crosses the ₹50,000 mark, TDS will be automatically deducted. Here, Form 15G becomes incredibly useful. By submitting this declaration alongside your claim, you can avoid the TDS, ensuring you receive your complete PF corpus intact.

Key Feature of Form 15G

Here are the key features of Form 15G:

• Validity: It has a validity of one financial year. You will need to submit a fresh one annually if you are eligible.
• Who is it for: The form is exclusively for resident Indians and Hindu Undivided Families (HUFs) who are under 60 years of age.
• PAN is Mandatory: You cannot file Form 15G without a valid Permanent Account Number. Without PAN, the declaration is considered invalid, and TDS will be deducted at a higher applicable rate.

Is Form 15G Mandatory for PF Withdrawal?

Form 15G is not mandatory for PF withdrawal, but if you do not want to lose your money unnecessarily, consider it an absolute must. Section 192A of the Finance Act 2015 clearly states that if you withdraw ₹50,000 or more from your EPF account before clocking five years of work, TDS is applicable.

Here is the breakdown of TDS deductions if you do not submit the Form 15G:

• 10% TDS: If you provide your PAN card but not the EPFO on Form 15G.
• 20% TDS: If you fail to submit both your PAN card and Form 15G.
• No TDS: If your PAN is updated and you submit Form 15G.

Benefits of Submitting Form 15G for PF Withdrawal

Submitting Form 15G during PF withdrawal can have a direct impact on how your funds are processed and taxed. Now, let us see what the various benefits of submitting Form 15G are:

1. Avoid TDS Deduction

Avoiding TDS deduction is the most obvious benefit of Form 15 G. Without it, a portion of your PF withdrawal may be deducted as tax upfront (typically 10% if PAN is provided). If you’re eligible, submitting the form ensures this deduction is not applied, helping you access your full withdrawal amount without waiting for a refund later.

2. Simplify Tax Compliance

Filing your annual Income Tax Return (ITR) is already a task in itself. Trying to calculate and claim a TDS refund adds a layer of complexity. Submitting Form 15G early helps keep your tax process simple and hassle-free.

3. Increase Take-home Funds

Whether you are withdrawing to fund a medical emergency, a wedding, or a home down payment, you need maximum liquidity. Form 15G will help you avoid TDS deductions, so your immediate cash in hand is larger when you need it most.

Where to Download Form 15G

You can get a blank Form 15G PDF directly from the official Income Tax Department website, your specific bank’s internet banking portal, or the EPFO portal. Most major financial aggregators also keep a clean, updated copy handy. Just make sure you download the version relevant to the current financial year.

Steps to Fill out the Form 15G for PF Withdrawal

Form 15G is divided into two sections: Part 1 and Part 2. For PF withdrawal, you only need to fill out Part

Here is how to fill out Form 15G step-by-step:

• Name of the Assessee (Declarant): Write it out exactly as it is printed on your PAN card.
• PAN of the Assessee: Since only individuals can submit Form 15G, make sure to enter your valid PAN card number.
• Status: Indicate your income tax status, which is “individual.”
• Previous Year: Write the financial year for which you are claiming the TDS exemption.
• Residential Status: Form 15G is only for residents, so you’ll need to select “Resident.” NRIs are not eligible.
• Address: Provide your full address along with the PIN code. If it’s on your Aadhaar card, make sure it matches.
• Email ID and Phone Number: Enter a valid email address and phone number for communication purposes.
• (a) Whether assessed to tax under the Income-tax Act, 1961: Tick “Yes” if you have filed an ITR in any of the previous years.
• (b) If yes, the latest assessment year for which you assessed: Mention the latest assessment year for which you filed your ITR.
• Estimated income for which this declaration is made: Indicate the estimated amount you plan to withdraw.
• Estimated total income of the P.Y. in which income is mentioned in column 16 to be included: Provide the estimated total yearly income for the same financial year you’re withdrawing the PF amount.
• Details of Form No. 15G other than this form filed during the previous year, if any: If you’ve submitted multiple Form 15Gs in that financial year, state the total number and total income amount of all those forms. Add up the amounts mentioned in field 16 of each form.
• Details of income for which the declaration is filed: Use your UAN for the “Investment ID”, write “PF Withdrawal” under the nature of income, put “Section 192A” for the section, and input the exact withdrawal sum.
• After filling out the form, double-check everything to ensure it’s accurate before submitting it.

Can We Submit Form 15G Online for PF Withdrawal?

Yes, you can, and it is the easiest route. If you want to withdraw your funds without getting tangled in the TDS deductions, here is how you can do it:

• Log in to the EPFO Portal: Start by logging in to the UAN member e-Sewa portal. You’ll need your Universal Account Number (UAN), password, and the captcha.
• Check KYC Details: Head to the ‘Manage’ tab. If your Aadhaar, PAN, and active bank account aren’t verified and seeded, the portal won’t let you submit Form 15G.
• Navigate to Online Services: Once logged in, click the ‘Online Services’ tab and hit ‘Claim (Form-31, 19, 10C & 10D)’.
• Verify Personal Information: The system will prompt you to enter your bank account number to verify your identity. Check that all details line up.
• Select PF Withdrawal Type: Choose the type of PF withdrawal you want to make (full withdrawal, partial withdrawal, or pension withdrawal).
• Upload Form 15G: You will find an option to upload Form 15G. Fill out the form as per the instructions (we’ll get into the details of filling out the form in a bit) and upload it to the designated section.
• Submit Your Claim: After uploading the form, you’ll need to agree to the terms and conditions and submit your claim. You might also need to authenticate the process using an OTP sent to your registered mobile number.
• Track Your Claim: After submission, you can track the status of your claim through the EPFO portal. You will receive updates on your registered mobile number and email.

How Much Amount of PF Interest is tax-free?

Interest on EPF contributions up to ₹2.5 lakh per year is tax-free. However, any interest earned on contributions above this limit will be taxed annually.

Now that you know how to Form 15G for PF download, you can save on TDS from your interest income. But be careful; not providing accurate information on Form 15G to avoid TDS can lead to fines or imprisonment under Section 277 of the Income Tax Act.

When is TDS Applicable and Not Applicable on EPF Withdrawal

Let us understand when the TDS is applicable and when it is not.

When TDS is Applicable:

If you want to withdraw an EPF amount of ₹50,000 or more and have worked for less than 5 continuous years, you would have to pay TDS. Here is how TDS is handled:

• With PAN Card: If the employee provides their PAN card but doesn’t submit Form 15G/15H, TDS will be deducted at a rate of 10%.
• Without PAN Card: If the employee doesn’t provide a PAN card and skips Form 15G/15H, TDS will be deducted at a higher rate of 20%.

When TDS is NOT Applicable:

When you transfer your EPF account to a new one, you do not have to worry about TDS. TDS also does not apply if you leave your job due to health issues, if your employer stops their business, if a project wraps up, or for other reasons beyond your control. If you withdraw your EPF balance after working for 5 years or more, TDS doesn’t come into play. Additionally, if your EPF amount is under ₹50,000 and you’ve worked for less than 5 years, no TDS will be deducted. And if you’re withdrawing ₹50,000 or more with less than 5 years of service, but you submit Form 15G or 15H along with your PAN card, TDS will be waived off.

Conclusion

Figuring out how to download Form 15G for PF withdrawal is not as complex as it might seem at first glance. With your UAN, an active internet connection, and just a few clicks on the EPFO member portal, you can submit the Form 15G. This ensures that your funds arrive without unnecessary deductions. By simply keeping your KYC updated and filling out the declaration honestly, you are setting yourself up for a totally hassle-free withdrawal.

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FAQs on Form 15G