You can submit form 15G for EPF withdrawal online. This facility is available on the unified member portal. You must be aware that TDS is applicable on the EPF withdrawal amount if you are withdrawing EPF before 5 years of contribution to the EPF. As an exception if your income is below the taxable limit you can submit self-declaration form 15G to stop TDS deduction. In this post, I will share the process of submitting form 15G for EPF withdrawal online.
So, if you are planning to withdraw EPF online at unified member portal, continue reading. I am sure most of your query related to form 15G, 15H and TDS withdrawal on EPF will be resolved after reading this post.
Also Read – How to update KYC EPF UAN Online?
Form 15G, 15H & TDS Rule on EPF Withdrawal
Form 15G/Form 15H are forms submitted to the concern authority for not deducting TDS for the specified income. These forms can be used for receipt of any payment such as interest received on the bank fixed deposit, rent income, insurance commission, and EPF withdrawal. Form 15G is for Indian resident with age below 60 years. The same form can be used for HUF. If age of resident is above 60 years Form 15H to be used.
EPF withdrawal is allowed under specific condition. As per rule if an individual is not in employment for two months after resigning from his job he/she can withdraw full EPF amount. In addition to this partial EPF withdrawal is also allowed under conditions such as marriage, education, home renovation, repayment of home loan and medical problems.
TDS Rule on EPF Withdrawal
As per current law, if you are doing EPF withdrawal without completion of five consecutive years of services TDS is applicable on the withdrawn amount. The amount considered for TDS under this case would be employer’s contribution and interest earned on that. There are four components of EPF.
- Subscriber’s (Employee) contribution
- Employer’s contribution
- Interest earned on subscriber’s contribution.
- Interest earned on Employer’s contribution.
The tax is applicable only on the employer’s contribution and interest. The subscriber contribution and interest earned is not taxable. The employer’s contribution will be taken under head “Salary” and interest component under “income from other sources”.
TDS applicable on EPF withdrawal is @10% if PAN card is submitted by the subscriber. If PAN card is not submitted TDS to be deducted @34.608%.
TDS on EPF withdrawal is deducted only if withdrawal amount is more than Rs.50,000. If your income for that financial year is lesser than taxable limit you can submit form 15G or 15H. The step to fill up and submit form 15G online on EPF portal.
How to submit Form 15G for EPF withdrawal online?
Step by step guide to submit Form 15G for EPF withdrawal online are given below.
- Login to unified member portal – UAN Portal. You need to use UAN number and password for login.
- From top menu bar click on online services > Claim (Form 31,19,10C)
- You will be able to see your profile information such as name, date of birth, mobile number, PAN number.
- You need to verify your bank account by entering last four digits of account number.
- System will popup notification to verify your bank account stating claimed amount will be credited to mention bank account.
- Now click on proceed for online claim. In the next page you need to select claim option. By default you will be able to see “PF Advance FORM-31” option.
- If you have resigned from job and your EPF account is marked with reason of leaving service, you will be able to see option of “Only PF Withdrawal FORM 19).
- Below this option you will be able to see option to Upload Form 15G.
You need to get copy of Form 15G and fill up Part 1 and upload it in the PDF format.
How to fill Form 15G for EPF withdrawal?
- Download the Form 15G in PDF format from here.
- Fill up Part 1. You need not to fill up Part 2.
- In Part 1, you need to fill up details such as name as per PAN, PAN number, Status, previous year, residential status, address.
- You also need to mention estimated income for which declaration is made and estimated total income. You will be able to get estimated EPF income amount from EPF passbook.
- You need to provide nature of income and section under which tax is deductible.
- Once you are done you need to sign form 15G.
- You need to upload filled form 15G as per steps given above.
FAQ about 15G for EPF withdrawal
- TDS on EPF withdrawal is applicable under which condition?
TDS on EPF withdrawal is applicable only if you withdraw from EPF before completing 5 years of continuous services. The tenure of 5 years includes previous employer also. You need to calculate exact 5 years. No grace is allowed if duration is shorter compared to 5 years.
- EPF partial withdrawal is allowed or not?
EPF partial withdrawal is allowed. You can withdraw EPF online as well as offline. The purpose for which EPF advance given are construction of house, medical problem, marriage, natural calamities, power cut, purchase of handicap equipment and for higher education.
- How much time it takes for EPF withdrawal?
Timeline for EPF withdrawal is not fixed. However, it generally takes 5-30 days for EPF withdrawal after applying it online.
- How to track EPF withdrawal claim status?
You can track EPF withdrawal claim status online from unified portal. You need to click on Online Service > Track claim status to get status of your claim.
- What to do in case any help is required?
In case you are finding any difficulty in applying for online EPF withdrawal you can contact helpdesk on 1800 11 8005. You can also send email to email@example.com