Minimum Deposit Money: Deposit this much money in your PPF, NPS and SSY account by 31st March, otherwise penalty may be imposed...

social m

Saving is a means by which you secure your future. In our country India, many such schemes have been launched by the government so that you get good returns on investment. There are many such government schemes in the country in which we invest to save tax. Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), and National Pension System (NPS) are such schemes that require a minimum deposit every financial year. These accounts may become inactive if the minimum amount is not deposited. If you do not deposit the required minimum amount in PPF, Sukanya Samriddhi Yojana, and the National Pension System (NPS) every financial year, you may also have to pay a penalty.


Let us tell you that the last date of the current financial year is coming soon. If you too have not deposited the minimum amount in these schemes by March 31, 2024, then deposit soon. Let us tell you that schemes like PPF, SSY, and NPS help in saving tax. If you pay tax under the old tax regime then these schemes are very useful. Today we are telling you what is the minimum amount required to be deposited every year in these schemes so that the account remains active and you do not have to pay a penalty.

Sukanya Samriddhi Yojana (SSY)
Sukanya Samriddhi Yojana is another such scheme in which investment helps in saving tax. Let us tell you that this scheme has been specially designed according to the future needs of girl children i.e. daughters. In this scheme, the account holder needs to deposit at least Rs 250 every financial year.

If you do not deposit at least Rs 250 in a financial year in your SSY account, the account will default. However, there is a special thing in this scheme that this account can be reactivated anytime before maturity. To reactivate the account, a default fee of Rs 50 will have to be paid for every default year. Additionally, they will have to charge a minimum fee of Rs 250 for each default year.

If the defaulted SSY account is not revived, the money in the account will have to be paid on maturity. Sukanya Samriddhi Yojana account matures after 21 years from the date of opening. After the daughter turns 18, the entire money can be withdrawn from this account at the time of marriage.

Public Provident Fund (PPF)
According to PPF (Public Provident Fund) rules, it is necessary to deposit at least Rs 500 in the Public Provident Fund every financial year. If you do not deposit even this minimum amount in the account, your account will become inactive.

For information, let us tell you that in case the account is inactive, you cannot avail of benefits like loans and withdrawals. Let us tell you that generally, these facilities start being available from the third and sixth year of account opening.

Let us tell you that to reactivate a PPF account that is deactivated before maturity, the account holder has to pay a fee of Rs 50 in every default year. Apart from this, they will also have to deposit at least Rs 500 in the PPF account every year. That means, that to reactivate the PPF account, the account holder will have to pay Rs 550 for every default year.

Public Provident Fund (PPF) account matures after 16 years from the date of opening date. But under certain circumstances, money can be withdrawn prematurely. If the PPF account is closed, the funds can be withdrawn only on maturity. And on maturity, it cannot be extended in a block of five years.


National Pension System (NPS)
Many people invest in the National Pension System for tax benefits. Under Section 80CCD(1B) of the Income Tax Act, tax exemption can be availed on investments up to Rs 50,000. Let us tell you that this exemption is in addition to the exemption of Rs 1.5 lakh available under Section 80C of the Income Tax Act. Under the rules of NPS, any account holder is required to deposit a minimum amount of Rs 1000 in his account every financial year.

You may hardly know that if there is no minimum deposit in the National Pension System (NPS) account, this account gets frozen. However, even if the account is frozen, there is no penalty charge from the NPS Trust. But in some cases, penalty has to be paid.

PC Social media