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What is Form 15G - Who Can Submit and How to Download For PF Withdrawal

What is Form 15G

Retirement – a time for relaxation, pursuing hobbies, and spending quality time with loved ones. But achieving this dream requires careful planning and financial security. In India, the Employees' Provident Fund Organisation (EPFO) plays a crucial role in securing your retirement savings. This blog will explore how to optimize your EPFO benefits using the 15G form and how life insurance can play a vital role in supplementing your retirement income.

Understanding Your EPFO Benefits

The EPFO is a social security scheme in India that mandates contributions from both employers and employees towards a retirement corpus. Here's how it works:

  • Contribution: A defined percentage of your salary (12% for employee and 12% for employer, capped at a certain limit) is deducted monthly and deposited into your EPF account.
  • Investment and Growth: The EPF corpus earns interest at a rate declared by the government each year.
  • Withdrawal: Upon retirement (or under certain other circumstances), you can withdraw your entire EPF corpus along with accrued interest.

The Importance of the 15G Form for EPFO

While interest earned on your EPF contributions is generally tax-exempt, there's a twist. If your total taxable income in a financial year exceeds a certain limit (currently Rs. 2.5 lakhs), Tax Deducted at Source (TDS) might be applied on the interest earned on your EPF. This can potentially reduce your final withdrawal amount.

  • Form 15G: This is a self-declaration form submitted to your employer or the EPFO stating that your total taxable income for the year will not exceed the specified limit. By submitting the 15G form, you can request no TDS deduction on the interest earned on your EPF contribution.

Maximizing Your EPFO Benefits with the 15G Form

Submitting the 15G form ensures you receive the full benefit of the interest earned on your EPF contributions. Here are some key points to remember:

  • Eligibility: Individuals below 60 years of age and Hindu Undivided Families (HUFs) can submit Form 15G.
  • Submission: The 15G form can be submitted online through the EPFO portal or offline by submitting a physical copy to your employer.
  • Renewal: The 15G form typically needs to be submitted every year to ensure continued exemption from TDS on interest income.

Who Can Submit Form 15G?

Here's who can benefit from submitting Form 15G for EPFO withdrawal in India:

  • Individuals below 60 years: If you're younger than 60 and your estimated taxable income falls below the exemption limit set by the government for that financial year, you can submit Form 15G.
  • Hindu Undivided Families (HUFs): HUFs can also submit Form 15G if their estimated taxable income is below the exemption limit.

Important Note: If you're a senior citizen (60 years or above), a different form, Form 15H, applies to avoid TDS on your EPFO withdrawal.

Downloading Form 15G: Three Convenient Options in India (with Links!)

Finding Form 15G is a breeze. Here are the three convenient options available in India, along with downloadable links for your reference:

  • EPFO Member Portal: The EPFO member portal is your first stop. Log in using your Universal Account Number (UAN) and navigate to the download section or resources section. You might find a readily downloadable version of Form 15G waiting for you. Here's the link to the EPFO member portal: https://www.epfindia.gov.in/
  • Income Tax Department Website: The Income Tax Department website is another reliable source. Head over to their website and search for downloadable forms. Form 15G should be easily accessible. You can find the Income Tax Department website here: http://www.incometaxindia.gov.in/
  • Bank Websites: Many major banks in India understand the importance of EPFO withdrawals and provide downloadable forms on their websites. Check your bank's website; they might just have Form 15G waiting for you.

Filling Out Form 15G: A Step-by-Step Guide

Now that you have the form downloaded, let's conquer it together! Here's a breakdown of how to fill out Form 15G accurately:

Part I: Declaration

  • Name of the Declarant: Enter your full name exactly as it appears on your PAN card. There should be no discrepancies.
  • PAN of the Declarant: Provide your 10-digit Permanent Account Number (PAN). This is crucial for verification purposes.
  • Status: Select "Individual" or "Hindu Undivided Family" (HUF) depending on your situation.

Part II: Details of Income for which declaration is given

Here's where you specifically declare the EPFO withdrawal:

  • Serial No.: Enter "1" as this is likely the only income source you're declaring for in this form.
  • Identification Number: You have two options here. Enter either your UAN (Universal Account Number) or your PF account number.
  • Nature of Income: Clearly specify "EPFO Withdrawal." This helps the authorities understand the context of your declaration.
  • Section under which income is chargeable: Enter "192A" as this section deals with TDS on payment of certain income, including interest on EPF.
  • Amount of Income: Enter the total amount you expect to withdraw from your EPFO account. Be as accurate as possible to avoid any discrepancies.

Part III: Verification

This is your signature section, signifying the truthfulness of the information provided.

  • Place: Enter the city or town where you're submitting the form.
  • Date: Fill in the date you're completing the form.
  • Signature of the Declarant: Sign the form with your usual signature as used on official documents.

Important Tips for Filling Form 15G

  • Accuracy is Key: Ensure the information you provide is accurate and matches your PAN card and other documents. Any discrepancies can lead to delays or rejection of your form. Take your time and double-check everything before submission.
  • Double-Check is Crucial: Before submitting the form, carefully review all the details you've entered. Even a minor error can cause problems. A fresh pair of eyes can be helpful for spotting any mistakes.
  • Timely Submission is Wise: It's recommended to submit Form 15G before initiating your EPFO withdrawal process. This ensures everything is in order for a smooth withdrawal. Don't wait until the last minute!

Submitting Form 15G: Two Ways to Get it Done

Now that your form is filled out, here's how to submit it to the authorities:

  • Online Submission (Preferred): This is the faster and more convenient option. Many employers provide an online portal for submitting EPFO withdrawal claims, and these portals often allow you to upload Form 15G electronically. Additionally, the EPFO member portal itself might offer an online submission option in the future, so keep an eye out for updates. Check with your employer or the EPFO website for the latest information on online submission options.
  • Offline Submission: If online submission isn't available, you can submit a physical copy of Form 15G along with your EPFO withdrawal claim form to your employer or the concerned EPFO office. Make sure you get a receipt for your submission.

Keep a Copy for Your Records

Once you've submitted Form 15G, it's wise to maintain a copy for your records. This can be helpful if any clarifications are needed regarding your TDS exemption. Additionally, you might need it for future reference.

Life Insurance: Supplementing Your Retirement Income

While the EPF provides a solid foundation for your retirement, it might not be sufficient to maintain your desired lifestyle, especially considering inflation and rising living costs. This is where life insurance becomes a valuable tool for supplementing your retirement income.

  • Retirement Income Options: Certain life insurance plans, like retirement plans or annuity plans, offer guaranteed payouts or regular income streams after retirement.
  • Maturity Benefit: Some life insurance plans like endowment policies provide a lump sum maturity benefit upon reaching retirement age. This benefit can be used to address specific retirement needs or supplement your regular income.

Life Insurance Options for Retirement Planning

Several life insurance options can be particularly beneficial for retirement planning:

  • Term Insurance: Provides a high death benefit at an affordable premium, ensuring your family is financially secure even in your absence. This allows your EPF corpus to remain untouched for their future needs.
  • Unit Linked Insurance Plans (ULIPs): Combine life insurance coverage with the potential for market-linked returns. ULIPs can help you grow your retirement corpus by investing in market-linked funds alongside life insurance protection.
  • Retirement Savings Plans: These plans are specifically designed for retirement planning and offer guaranteed benefits along with life insurance coverage, providing a predictable income stream upon retirement.

Choosing the Right Life Insurance for Your Retirement Needs

With various life insurance options available, choosing the right one depends on your individual circumstances. Here are some key factors to consider:

  • Retirement Goals: Assess your desired retirement lifestyle and the additional income needed to achieve it.
  • Risk Tolerance: Evaluate your comfort level with market fluctuations. Choose a plan that aligns with your risk profile.
  • EPF Corpus: Consider the size of your expected EPF corpus and how much additional income you need from life insurance.
  • Current Financial Situation: Factor in your existing expenses and commitments while planning your life insurance premium.

Consulting a Financial Advisor

Navigating EPF rules and choosing the right life insurance for your retirement goals can be complex. Consulting a registered financial advisor can be invaluable. They can help you:

  • Understand EPF benefits and TDS implications: Ensure you fully understand the benefits offered by the EPFO scheme and how the 15G form can help you maximize your returns.
  • Estimate your retirement corpus: Based on your current salary, contribution period, and expected interest rates, estimate the size of your expected EPF corpus at retirement.
  • Develop a personalized retirement plan: They can create a plan that considers your EPF benefits, desired lifestyle, and risk profile, recommending a suitable life insurance plan to bridge any income gap in your retirement years.


Planning for retirement is a journey, not a destination. By understanding your EPFO benefits and taking advantage of the 15G form, you can ensure you maximize this vital source of retirement income.Life insurance, when chosen carefully, can significantly enhance your financial security and peace of mind.By combining a well-managed EPF corpus with a strategic life insurance plan, you can build a strong foundation for a happy and worry-free retirement, allowing you to truly enjoy your golden years.


*Tax benefits are as per the Income Tax Act, 1961, and are subject to any amendments made thereto from time to time.

The article is meant to be general and informative in nature and should not be construed as solicitation material. Please read the related product brochures for exclusions, terms and conditions, warranties, etc. carefully before concluding a sale. Make responsible financial decisions. Consult with your financial advisor before making any decisions on insurance purchase.

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