Now those investing in these schemes must have PAN and Aadhaar (AADHAAR) card. This change has come into effect from April 1, 2023. If you have also invested in these government savings schemes and do not have PAN or Aadhaar card, then you should get it done as soon as possible.

Changed to make it transparent

If you do not do this, you will not be allowed to invest in these schemes. This change has been made by the government with the aim of making investment in these schemes more transparent and easy. This change has also been made to protect the rights of investors in these schemes. Recently, the Finance Ministry issued a notice saying that Aadhaar and PAN will be mandatory for investing in small savings schemes issued by the government. Earlier, one could invest in these schemes even without an Aadhaar number.

It is necessary to show PAN card to invest

been said in the notice that investors will have to submit Aadhaar number before making any kind of investment. Also, to invest beyond a limit, PAN card has to be shown. This change has been done to make investment in government-run schemes more transparent and easy. If you do not have Aadhaar card then you have to submit Aadhaar number within six months after opening the account. If you are investing more than a certain limit, then you will also have to submit PAN card. You will need these documents to open a Small Savings Scheme account-

– Passport size photo
– Aadhaar number or Aadhaar enrollment slip
– PAN number, if existing investors do not submit PAN card and Aadhaar card by 30 September 2023, then their account will be banned from 1 October 2023.

The post Small Savings Schemes Rules: Finance Minister issued order! Government changed the rules of Sukanya Samridhi Yojana, PPF scheme first appeared on Rightsofemployees.com.

If you have also invested money in any government scheme like Public Provident Fund (PPF), Senior Citizen Saving Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), then this news is useful for you. The government has changed the rules for those investing in these schemes. Now if you are also planning to invest in any of these government schemes, then you will not be able to take advantage of it without PAN and Aadhaar card.

Finance Ministry had issued notification

Information about this was given by the Finance Ministry some time ago by issuing a notification. It was told in this notification that small savings schemes will be used as KYC.
PAN card will have to be shown
Apart from this, the Finance Ministry has said that investors will have to first submit the Aadhaar enrollment number to make any further investment. Apart from this, PAN card will have to be shown to invest more than the limit. You will not be able to invest without PAN card.

Got time of 6 months

If you do not have Aadhaar while opening an account for Post Office Savings Scheme, you will have to submit proof of enrollment slip for Aadhaar. Also, to link the investor with the investment of ‘Small Savings Scheme’, the Aadhaar number will have to be given within six months from the date of opening the account.

Let us tell you that from now on, what documents will you need to open an account in Small Savings Scheme-

>> You should have Aadhaar number or Dhar enrollment slip
>> Apart from this, passport size photographs should be there
>> PAN number, If existing investors do not submit PAN card and Aadhaar card by 30 September 2023, then their account will be banned from 1 October 2023.

The post Finance Minister issued order..! Big change in the rules of PPF-Sukanya Samriddhi yojana, check notification details first appeared on Rightsofemployees.com.

The rules have been changed by the government for those investing in these schemes. In all these schemes run by the government, PAN (PAN) and Aadhaar (AADHAAR) have been made necessary for the investors.

Must submit Aadhaar Enrollment Number

In the notification issued by the Finance Ministry, it was said that these changes will be used as KYC for the Small Savings Scheme issued by the government. Earlier, you could deposit in all these savings schemes even without Aadhaar number. On behalf of the Finance Ministry, it was said that before making any kind of investment, investors will have to submit the Aadhaar enrollment number. Also, PAN card will have to be shown for investment above a limit.

Aadhaar number will have to be given within six months.

If you do not have Aadhaar while opening an account for post office savings scheme, you will have to submit proof of enrollment slip for Aadhaar. Also, to link the investor with the investment of ‘Small Savings Scheme’, the Aadhaar number will have to be given within six months from the date of opening the account. Now you will need these documents while opening the Small Savings Scheme account-

– Passport size photo
– Aadhaar number or Aadhaar enrollment slip
– PAN number, if existing investors do not submit PAN card and Aadhaar card by 30 September 2023, then their account will be banned from 1 October 2023.

The post Finance Minister issued order! Big change in the rules of PPF-Sukanya Samriddhi, know new rules instantly first appeared on Rightsofemployees.com.

The interest rate for GPF and other funds has been retained at 7.1 per cent for January to March of the current financial year by the Ministry of Finance.

The interest rate is reviewed on a quarterly basis.

Earlier, in the quarter ended December 31, the interest rate on GPF was at 7.1 per cent. In the notification issued by the Finance Ministry, it was said that this rate is valid from January 1, 2023 to March 31, 2023. Let us tell you that the government announces interest rates for GPF and other similar funds like CPF, AISPF, SRPF, AFPPF on a quarterly basis. A decision in this regard is given by the Finance Ministry.

What is GPF?

General Provident Fund (GPF) account is only for government employees. This is a retirement fund scheme. Government employees can voluntarily contribute up to 15% of their salary to GPF. In the ‘advance’ feature of this account, the employee can withdraw the fixed amount from the GPF account on any need. Not only this, after the work is done, you can also deposit it. No contribution is made to the GPF fund by the government.

Decision on DA will be taken in March.

Apart from this, the DA hike of central employees has become due from January 1. It is expected that the government will take a decision on this before Holi in March. The AICPI index till November has been released by the Labor Ministry. On the basis of this, it is believed that the government will increase dearness allowance and dearness relief by 4 percent in March. At present the central employees get 38 percent dearness allowance, in the coming time it will increase to 42 percent.

The post GPF Interest Rate Increased: Decision on GPF before DA for government employees, Finance Minister issued order first appeared on Rightsofemployees.com.