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 form replaces the previous Forms 15G and 15H. It serves as a self-declaration form for claiming TDS exemption on EPF withdrawals and interest income.
Additionally, EPFO plans to launch a new portal called E-PRAAPTI. This portal will help members trace and link old or inactive PF accounts.
The minimum pension under EPS-95 is currently set at ₹1,000 per month. Labour unions are demanding an increase in this minimum pension to ₹7,500.
The Central government contributes over ₹950 crore annually to maintain the current minimum pension level. Discussions are underway regarding the potential increase in the minimum pension under EPS-95.
E-PRAAPTI will allow users to access legacy accounts and complete UAN seeding without employer intervention. Labour minister Mansukh Mandaviya stated that this initiative aims to enhance digital services for members.
