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What Are EPF Pension Withdrawal Rules?
Submitting Form 121 (previously called Form 15H/Form 15G ) can help prevent the TDS deduction, provided the individual meets the eligibility criteria of having total income below the set taxable limit.
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EPF Withdrawal Before 5 Years of Continuous Service
TDS (Tax Deducted at Source): If the total EPF withdrawal before five years exceeds ₹50,000, TDS ( Tax Deducted at Source ) will be applicable. If you’ve provided your PAN, the TDS is charged at 10%. However, if you haven’t submitted your PAN, the rate shoots up to 20%. You can avoid TDS altogether by submitting Form 15G (if you're under 60 years of age) or Form 15H (if you're 60 or older), provided your total taxable income is below the basic exemption limit.