Big update regarding PPF-Sakunya Samriddhi Yojana, this document is mandatory, otherwise investment will freeze
Earlier, investment could be made by showing electricity or water bill.
Now if Aadhaar is not submitted then the account will be frozen.
In the absence of Aadhaar number, enrollment slip can be submitted in the beginning.
New Delhi. The central government has made PAN and Aadhaar card mandatory for investing in PPF, Sukanya Samriddhi, National Savings Certificate and other post office savings schemes. The Central Government had issued an order for this on 31 March. Earlier investment could be done only on the basis of PAN. From now on, it will be necessary for the account holders to put Aadhaar number or Aadhaar enrollment slip in the small savings schemes of the government.
As per the issued order, PAN and Aadhaar will have to be submitted compulsorily. If a person wants to invest in these schemes but does not have an Aadhaar number, then he can submit the enrollment slip. After 6 months, the account holder will have to compulsorily submit the Aadhaar number. If the person fails to submit the Aadhaar number, then the investment made by him will be frozen and will be restarted only after getting the Aadhaar number.
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PAN is also mandatory
It has been further said in the order that it is also necessary to submit PAN while opening the account. If PAN is not submitted at that time, then it will have to be submitted within the next 2 months. Apart from this, there are 3 more circumstances where submission of PAN will be mandatory. If the account balance exceeds Rs.50,000, the total credit exceeds Rs.1 lakh in any one financial year or the amount of withdrawal and transfer from the account exceeds Rs.10,000. If the PAN is not submitted within 2 months, the account will be frozen.
what was the system before
Earlier, if one did not have Aadhaar or PAN card, then investment could be made by submitting documents like electricity bill, telephone bill, receipt of municipal corporation, property tax and pension etc. However, these documents could not be older than 2 months. Also, it was necessary to mention the current address of the account holder on these papers. Now passport size photo, Aadhaar number or enrollment slip and PAN number will be mandatory for investing in these schemes.
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Tags: ppf account, save money, Senior citizen savings scheme, Small Savings Schemes, Sukanya Samriddhi
FIRST PUBLISHED : April 02, 2023, 16:04 IST