The Employees' Provident Fund Organization (EPFO) has recently made several important changes. Employees will now need to fill out a separate form when withdrawing their PF. Previously, PF account holders could withdraw PF funds from their accounts by filing Forms 15G and 15H. Now, a significant change has been made. This means you no longer need to fill out both forms.

The EPFO ​​has now made Form 121 mandatory for employees of all ages. This means that employees will now be required to fill out Form 121 instead of Forms 15G and 15H when withdrawing their PF. This news is very important for senior citizens. Previously, TDS was not levied on PF amounts. Now, both these forms have been canceled. Additionally, filing a self-declaration Form 121 has also been made mandatory.

According to the changing rules, by filing this form, employees whose annual income is below the tax limit will no longer need to pay taxes in the new financial year. This form will be used not only for PF but also for other bank functions.

There's good news for employees who have old PF accounts that have been inactive for a long time. They will now be able to reopen them. Previously, former employees were unable to access their PF accounts due to lack of a UNA number. However, this problem has now been resolved. You can reactivate your account simply by using your Aadhaar information.

 PC:Roachak Khabre