Today in this Article we are talking about “Download Form 15G For PF Withdrawal 2023” and How to Fill Form 15G for PF Withdrawal. As Form 15G is Required to save TDS for PF Withdrawal when you want to withdraw more than 50000 INR From your Provident Fund without completing 5 Year with the Current Company. The organization named Employees Provident Fund Organization i.e. EPFO has introduced Form 15G for PF withdrawal, which helps PF holders to pre-withdraw their PF online without any TDS deduction.

Form 15G is a self-declaration form for PF withdrawal which ensures the applicant that there will be no deduction of TDS, if they withdraw their provident fund before, in a given financial year.

Download Form 15G For PF Withdrawal 2023

You can Download Here Normal Form 15G For PF Withdrawal to Save the TDS.

Is Form 15G Compulsory for PF withdrawal?

Form 15G is essential for taxpayers to avoid TDS on the amount withdrawn. As per the provisions of section 192A, PF withdrawal over INR 50,000 before the completion of five years of employment will attract a levy of TDS.

TDS will not be deducted if the PF withdrawal made after the completion of 5 years of employment. Furthermore, 10% of TDS will be applicable if the member doesn’t provide a valid PAN Card.

Download Fillable Form 15G

Is Form 15G Compulsory for PF withdrawal of less than INR 50,000?

For any withdrawal amount that is less than INR 50,000, members don’t need to submit Form 15G.

How much amount of PF interest is tax-free?

According to the amendment in the Finance Act 2021, interest earned on Provident fund is taxable as per the provisions of the Income Tax Act, 1961. According to these provisions, the interest income of PF up to INR 2, 50,000 in a FY is tax-free for a non-government employee (where the employer also contributes to the EPF account) and INR 5, 00,000 for a government employee.

What Is Form 15H?

Form 15H is filled by only those senior citizens who are aged 60 and more. This is a declaration made under the Income-tax Act, 1961- sub-section (1C) of section 197A. The aim and objective of both Form 15G and 15H are to save TDS on your interest earned. For this Year there are some changes in the Form 15G or Form 15H so you can Download Form 15G for PF Withdrawal 2023.

Who Can File Form 15G & Form 15H?

  • Only Indian resident
  • Form 15G should be filed by Indian citizens who are less than 60 years.
  • Form 15H should be filed by Indian citizens who are more than 60 years.

How to fill Form 15G for PF withdrawal?

These are the steps to fill up Form 15G:

Field 1 – Name of the Assessee (Declarant) – As per Your PAN Card

Field 2 – PAN of the Assessee: Enter your valid PAN card number

Field 3 – Status: Individual or Hindu Undivided Family (HUF).

Field 4 – Previous Year: Select the FY in which you are claiming the non-deduction of TDS.

Field 5 – Residential Status: Mention ‘Resident’

Fields 6-12 – Address: Mention your address

Fields 13-14 – Email id & phone number: Enter your valid email ID and phone no.

Field 15 (a) – Whether assessed to tax under the Income-tax Act, 1961: Press ‘’Yes’’ in box if you filed an ITR in any of the last few years.

(b) If yes, latest AY for which assessed: Look at the AY from the latest ITR and mention the same.

Field 16 – Mention the estimated withdrawal amount.

Field 17 – Mention the total estimated income of the FY in which you plan to withdraw the PF amount.

Field 18 – Details of Form No. 15G other than current for filed. If any individual filed another Form 15G then mention the total number of Form 15Gs filled and total income.

Field 19 – Income details for which the declaration is filed

After filling up all the fields, kindly re check the details to ensure there is no error.