Epfo 2026 rule updates

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 new form replaces Forms 15G and 15H. It serves as a self-declaration form for claiming TDS exemption on EPF withdrawals and interest income.

Key changes:

• Form 121 replaces Forms 15G and 15H.
• The new portal, E-PRAAPTI, will help members trace and link old or inactive PF accounts.
• E-PRAAPTI will allow users to access legacy accounts without employer intervention.

The minimum pension under the Employees’ Pension Scheme (EPS-95) is currently set at ₹1,000 per month. Labour unions are demanding an increase to ₹7,500. The Central government contributes over ₹950 crore annually to maintain the minimum pension.

Discussions are underway to potentially raise the minimum pension under EPS-95. Labour minister Mansukh Mandaviya stated, “The proposed portal, called E-PRAAPTI, will enable subscribers to access legacy accounts, update profiles and complete UAN seeding without any intervention by the employer.”

Officials have not confirmed when the decision on the pension increase might be announced. The changes aim to streamline compliance processes and improve access for provident fund subscribers.