If you have invested in any small savings scheme of bank or post office, then this news is for you. According to the guidelines of the Finance Ministry, investors of Senior Citizen Savings Scheme (SCSS), Public Provident Fund (PPF), National Savings Certificate (NSC) or any other small savings schemes should submit their Aadhaar number to the post office or bank branch before September 30. Have to deposit.

If Aadhaar number is not provided by this date then your small savings account can be frozen. Let us tell you that the Finance Ministry has made Aadhaar and PAN mandatory for PPF, NSC and other small savings schemes. This notification is applicable from March 31, 2023 only.

Today is the last date for PAN-Aadhaar submission

According to this notification issued by the Ministry of Finance, “If a depositor has already opened an account in these savings scheme but has not submitted his Aadhaar number to the concerned office, he shall do so within a period of 6 months from April 1, 2023.” should have to.” Explain that the period of 6 months will end on September 30, 2023.

May have to face such consequences

1. Whatever interest is being earned on your investment will not be credited to your bank account.
2. You will not be able to invest in your PPF or Sukanya Samriddhi accounts.
3. The maturity amount will not be credited to your bank account.
4. If the investor fails to submit the Aadhaar number within 6 months, his account will remain inactive until he provides the Aadhaar number to the concerned office.

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What is Public Provident Fund

An investor can deposit a maximum of Rs 1.5 lakh annually in the Public Provident Fund (PPF) scheme with an investment limit of 15 years. In return, the government gives interest at the rate of 7.1 percent to the investor. In this way, Rs 1.5 is deposited every year for 15 years, on which the annual interest rate is Rs 10,650. However, the current interest rate of 7.1 percent is expected to increase from July 2023.

Circular of the Ministry of Finance

In the circular issued on March 31, 2023, the Ministry of Finance has given a strict warning to the PPF account holders that the account holders should link their PPF account with their Aadhaar under any circumstances.

According to the ministry, if the PPF investor has opened the account before March 31, 2023 and has not submitted his Aadhaar number to the accounts office, then he should submit the Aadhaar number within six months from April 1, 2023. That is, PPF investors must link their account with Aadhaar by 30 September 2023. Account holders can also submit PAN along with Aadhaar.

What if PPF account is not linked with Aadhaar?

The Finance Ministry has made it clear in its circular that if the Aadhaar number is not submitted within the stipulated time in the post office where the PPF account is opened and the PPF account is not linked, then the account will be frozen, due to which the investor Many types of problems may have to be faced like-

1. The prescribed interest amount will not be credited to the investor’s PPF account.
2. The account holder will not be able to deposit money in his PPF account.
3. The maturity amount of PPF will not be transferred to the bank account specified by the investor.

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