The Employees’ Provident Fund Organisation (EPFO) has introduced a series of changes over the past few months. These updates, which coincided with the rollout of the Income Tax Act, 2025, are aimed at streamlining compliance processes and improving access for provident fund subscribers.
A key change is the replacement of Forms 15G and 15H with a unifiedfrom 1 April, simplifying the process of claiming tax deducted at source (TDS) exemption on EPF withdrawals and interest income. Additionally, EPFO also plans to launch a new portal to help members trace and link old or inactive PF accounts.
Some media reports also claim that discussions are underway to raise the minimum pension under the Employees’ Pension Scheme (EPS-95), which is currently set at ₹1,000 per month. The proposal, if approved, could benefit millions of pensioners, though no official notification has been issued yet.
Forms 15G and 15H replaced with Form 121
has rolled out a new compliance mechanism under the Income Tax Act, 2025, replacing the long-standing Forms 15G and 15H with a single, consolidated Form 121. The change took effect on 1 April. The EPFO circular announcing the change was issued on 13 April.
Under the revised system, Form 121 has been introduced as a unified self-declaration form for individuals claiming exemption from tax deducted at source (TDS). It replaces the earlier dual-form structure in the Income-tax Act, 1961, that distinguished taxpayers based on age. Previously, taxpayers were required to select one of the two forms based on their age- Form 15G for persons below 60 years of age and Form 15H for senior citizens.
Form 121 is a self-declaration form through which eligible taxpayers can seek exemption from TDS on income such as EPF withdrawals, interest and dividends. By filing this form, individuals certify that their total income for the financial year falls below the taxable limit.
E-PRAAPTI portal to trace old PF accounts
Amid a broader push by EPFO to digitize services and reduce manual processes, the agency plans to launch a digital platform to help members identify and reactivate dormant or unclaimed EPF accounts using Aadhaar-based authentication, even if these are not linked to a Universal Account Number (UAN), labour minister Mansukh Mandaviya said on Wednesday.
The proposed portal, called (EPF Aadhaar-Based Access Portal for Tracking Inoperative Accounts), will enable subscribers to access legacy accounts, update profiles and complete UAN seeding without any intervention by the employer, Mint reported earlier.
In its initial phase, E-PRAAPTI will operate on a member ID-based system, enabling users with older account details to initiate retrieval and activation. The platform is expected to expand later to cover those unable to recall or access their member IDs.
Hike in pension
According to a report by The Economic Times, the Ministry of Labour and Employment is considering increasing the minimum pension under EPS-95 beyond ₹1,000. The Central government contributes in excess of ₹950 crore every year to meet its commitment of a minimum pension of ₹1,000 to all EPS subscribers.
Labour unions and pensioners’ associations have been demanding that the minimum pension be increased to ₹7,500. They argue that the existing amount is insufficient to cover basic living expenses.
Discussions related to the proposal are underway, and a decision could be announced soon, the news report said, citing sources familiar with the matter. The proposal has reportedly also received institutional backing, with a parliamentary committee recommending an upward revision to strengthen social security for retirees.