Small Savings Scheme: Those investing in Small Savings Schemes are required to invest at least a minimum fixed amount during every financial year.
New Delhi: If you invest in Small Savings Schemes like Sukanya Samriddhi Yojana, Public Provident Fund and National Pension System, then there is important news for you. . Actually, those investing in such schemes are required to invest at least a fixed amount during every financial year. If you are not able to deposit the minimum annual amount by March 31, your account may be frozen. Not only this, you may also have to pay a fine.
Deposit minimum amount before 31st March
If you have also opened an account for investing in these schemes, but have not yet deposited money in it during this financial year, then you should complete this work in time. You have time only till 31 March 2024. However, you do not need to worry. Here we are going to tell you about the minimum deposit amount for Sukanya Samriddhi Yojana (SSY), Public Provident Fund i.e. PPF and National Pension System i.e. NPS to avoid penalty.
Public Provident Fund (PPF)
Those investing in Public Provident Fund i.e. PPF are required to deposit at least Rs 500 in the PPF account every financial year. If you do not deposit the minimum balance in this account then your account will become inactive. After this, to reactivate your account, you will have to pay a penalty of Rs 50 every year with a minimum amount of Rs 500 per year. That means, to reopen a closed Public Provident Fund Account, you will have to pay Rs 550 every year.
National Pension System (NPS)
Government Pension Scheme National Pension System i.e. NPS is a retirement saving scheme. Those investing in this scheme have to deposit at least Rs 1,000 in their NPS account during every financial year. If you fail to do this, your account may get frozen. However, you can get the account reopened but for this you will have to pay a minimum of Rs 500. At the same time, if you keep depositing a minimum contribution of Rs 1,000 during the financial year, your account will remain active.
Sukanya Samriddhi Yojana (SSY)
Daughter’s future can be secured by investing in Sukanya Samriddhi Yojana. If your account is opened under this scheme, then you have to deposit at least Rs 250 every year. If you do not deposit this minimum deposit then your account will be considered in default. After this, if you want to open your account again, you will have to pay a fine of Rs 50 per year. You will have to pay this fine with a minimum contribution of Rs 250 every year.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
