People invest in many schemes to make their future secure. Many schemes have been introduced by the government to help the people. These include schemes like PPF, NPS and Sukanya Samriddhi. In these schemes, people get more benefit of return on investment as well as benefit of loan and tax. It can be invested from a small amount to a high amount.
If you also want to invest in these schemes or you already have an account in these schemes, then according to the rules, it is necessary to keep a minimum balance in accounts like PPF, NPS and SSY during the new financial year and this work should be done by you on 31st March. have to do before. If this is not done then your account will be closed.
Explain that from the financial year 2021-22, one can opt for the old/existing tax regime and avail the benefits of existing tax exemptions and deductions. At the same time, opting for the new tax system can also omit the tax deduction. However, even if you opt for the new tax regime, it is important that you deposit the minimum contribution required to keep the account active. Let us know on which scheme, what will be the minimum charge and what are the rules.
Public Provided Fund (PPF)
You have to keep a minimum amount of Rs 500 under PPF account. If you do not have money in your account, then keep it before 31 March 2022. On the other hand, if you are not able to do so by this date, then along with Rs 500, you will also get a penalty of Rs 50 every year. PPF account holders should also keep in mind that if you do not deposit the minimum amount, then your account gets closed.
You will not be able to take advantage of the loan, tax saving facility once the account is in the discontinued section. Also, before maturity, you have to get the account corrected. Otherwise, your account will be closed as soon as the maturity period is over. PPF gives a maturity period of 15 years.
National Pension Scheme (NPS)
In this scheme, which gives pension benefits to the people, it is mandatory for the account holders to keep at least Rs 1000 in the account under Tier-1. On the other hand, if you deposit the minimum balance in this account after the end of the time, then you will have to pay Rs 100 with pennoy. Along with this, Point of Presence (POP) charges are also to be paid. Only then your account will be unfreezed.
On the other hand, if one also has a Tier-2 NPS account, which does not require lock-in of funds, the Tier-2 account will be automatically frozen along with the freezing of the Tier-1 account. However, there is no minimum contribution requirement in Tier-II.
Sukanya Samriddhi Account Scheme
250 is required to keep the account active in this scheme. If the minimum balance is not maintained then this account becomes default. A defaulted account can be regularized before completion of 15 years from the date of opening of SSY account. To regularize the account, you have to make a minimum contribution of Rs 250 along with a penalty of Rs 50 for each defaulting year.