If you have not deposited any money in these accounts in the current financial year, then put the minimum required amount in it by March 31, 2022, otherwise, you may have to pay a fine.
New Delhi: PPF vs NPS vs SSY Minimum Deposit Amount: There is important news for the account holders of the Public Provident Fund (PPF), National Pension Scheme (NPS), and Sukanya Samriddhi Yojana (SSY). Actually, tax saving schemes require account holders to deposit a minimum amount in a financial year to check whether their account is active or not.
Read More: Every month, the interest of 50,000 will be available; invest in the name of any family member.
Check before 31st March
If you haven’t checked these accounts yet, check them today. If you have not deposited any money in these accounts in the current financial year, then you must put the minimum required amount in it by March 31, 2022, otherwise, you may have to pay a fine. In fact, once these accounts are deactivated, you will have to pay a penalty to reactivate them
Minimum contribution required
Let us know who has the minimum balance amount in these important schemes?
The minimum annual contribution to PPF for a financial year is Rs 500. Along with this, you should also know that the last date to make this contribution for the current financial year is March 31, 2022. If you haven’t deposited the amount yet, do so soon. Otherwise, you will have to pay a penalty of Rs 50 each year along with an outstanding subscription of Rs 500 for each year.
As per the rules, it is mandatory for Tier-1 NPS account holders to deposit at least Rs 1,000 in a financial year. At the same time, if the minimum contribution is not made in the NPS Tier-1 account, then the account will become inactive. For this, you will have to pay a fine of Rs 100. Not only this, you should know that if one has a Tier II NPS account (where lock-in of funds is not required) along with the freezing of the Tier-I account, the Tier-II account will also be automatically closed. Will be done.
Sukanya Samriddhi Account Scheme
It is mandatory to deposit a minimum of Rs 250 in a financial year in Sukanya Samriddhi Account. Otherwise, you have to pay a fine of Rs 50 for this. In such a situation, if you have not yet checked the minimum amount in this account, then check and update today.
