But whether it is tax free depends on your total income for the year adding this amount of Rs50000.
One must remember that submission of Form 15 G should be carefully done with correct PAN number.
Your income should be below taxable limit.
Submission of incorrect form 15 G can lead to penal consequences.
One must remember that copy of form 15G is sent to local IT office.
EPFO to deduct TDS on PF withdrawals in some cases from June - Business Today