The EPFO’s introduction of a unified Form 121 marks a significant shift in the tax exemption process for EPF withdrawals, effective from April 1, 2026. This change simplifies how members can claim TDS exemptions on their provident fund withdrawals and interest income.
Form 121 replaces the previous Forms 15G and 15H, streamlining compliance processes for subscribers. The new form is a self-declaration tool that allows members to navigate tax exemptions more efficiently.
In addition to this, the EPFO plans to launch a new portal named E-PRAAPTI. This digital platform will enable users to trace and link old or inactive PF accounts without needing employer intervention. Labour minister Mansukh Mandaviya emphasized, “The proposed portal will enable subscribers to access legacy accounts, update profiles and complete UAN seeding without any intervention by the employer.”
Currently, the minimum pension under the Employees’ Pension Scheme (EPS-95) stands at ₹1,000 per month. Labour unions have voiced their demands for an increase to ₹7,500 monthly. The Central government contributes over ₹950 crore annually to maintain this minimum pension level.
Discussions are underway regarding a potential increase in the EPS-95 minimum pension. Officials have indicated that a decision could be announced soon.
This comprehensive approach by the EPFO not only enhances digital services but also aims to address long-standing concerns about pension adequacy among members.
