You can get Form 15G from EPFO’s online portal or the websites of major banks. How to download Form 15G for PF withdrawal? 42.744% tax deduction at source if you fail to submit both your PAN card and Form 15G. ![]() 10% TDS if you submit your PAN card but fail to submit Form 15G.Keeping these above conditions in view, these are the PF withdrawal rulesthat will be applicable: Section 192A of the Finance Act 2015 states that PF withdrawal will attract TDS if the withdrawal amount is more than Rs.50,000 and your employment tenure is of less than 5 years. Yes, Form 15G is mandatory if you do not want TDS to be deducted from the withdrawal amount. You can refer to this page for more about all the scenarios where Form 15G is required. In this article, we will cover Form 15G for PF withdrawal. ![]() This declaration is mandatory for all individuals below 60 years of age and Hindu Undivided Families (HUFs). To learn more on this matter, please read on.įorm 15G or EPF Form 15G is an authorised document that will ensure that there is no TDS deduction on the interest that you earn from your EPF, RD or FD in a given year. However, you can make sure that there are no TDS deductions on your withdrawal amount by filling out PF form 15G if your income is below the taxable limit. Thus, you will receive only the balance amount. However, according to section 192A of the Income Tax Act, TDS (Tax Deducted at Source) will be deducted if the withdrawal amount exceeds Rs. You can withdraw this PF balance as per the PF withdrawal rules. This fund balance earns 8.10% interest every year. A matching contribution is made by the employer.
0 Comments
Leave a Reply. |