If you have invested in these schemes then complete these important tasks by 31st March, otherwise fine will be imposed
Actually, those investing in such schemes are required to invest at least a fixed amount during every financial year.
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.