Employees Provident Fund Organization
If you are associated with EPF (Provident Fund), then an important change has come for you. Employees’ Provident Fund Organization (EPFO) has made it clear that now the new Form 121 will be used in place of the old Form 15G and 15H. This rule has come into effect from April 1, 2026, when the new Income-tax Act, 2025 came into force.
Now work will be done with only one form
Earlier, people below 60 years of age used to fill Form 15G and senior citizens used to fill Form 15H. Now a single Form 121 has come in place of both of them. This form is for those people whose tax liability for the year is zero, that is, they have to avoid deducting TDS.
Who has to fill Form 121?
- This form is not necessary for everyone.
- Individuals resident in India (both below and above 60 years)
- HUF (Hindu Undivided Family)
other eligible people
The condition is that their total estimated income should not come under the ambit of tax.
Who cannot fill this form?
Companies and Firms NRI (Non-Resident)
Form 121 will not be applicable for these people.
What is Form 121 in simple language?
This is a self-declaration form, in which you state that your total income is less than the tax limit. TDS will not be deducted on giving it to EPFO, bank or any financial institution (if you are eligible).
UIN number will also be available
A Unique ID Number (UIN) will be given with every Form 121, which will contain information like serial number, tax year and TAN.
What will happen to the old form?
Even if you have submitted 15G/15H after April 1, 2026, it will not be rejected, but later Form 121 will be taken from you.
The new form is easier and smarter
The new Form 121 will be more user-friendly than before
- auto-fill information
- instant error check
- dropdown option
- easy verification
To simplify the process, the government has introduced Form 121 by removing 15G and 15H, so that people with low taxes can get relief from TDS and filing also becomes easier.
