New Delhi, Oct. 14 -- Employees planning to withdraw money from their Employees' Provident Fund (EPF) accounts will need to familiarise themselves with a change in the tax documentation process. From the financial year 2026-27, Form 121 will replace Forms 15G and 15H for eligible individuals seeking exemption from tax deducted at source (TDS) on specified income, including eligible provident fund withdrawals.

The Employees' Provident Fund Organisation (EPFO) has informed its members of the change, which took effect on April 1, 2026. The new form is intended to simplify the process by removing the need to submit different declarations based on age.

However, the introduction of Form 121 does not mean that all provident fund withdrawals wi...