If you follow certain planning and rules, then you can increase your earnings in PPF to a great extent. Therefore, it is very important to understand the calculation of interest received on PPF.

The 5th date is very important for investors investing in PPF . If you remember this date, you can earn a lot of interest. Let us tell you that the biggest strength of PPF is compounding. That is, the sooner you start investing, the more time your money will get to grow. By the way, a small investment started at the age of 20-25 can create a much larger corpus than a large investment started at the age of 40-50.

Invest before 5th of the month

It is believed that it is necessary to invest in PPF on a correct date. It is believed that the interest in PPF is calculated on the minimum balance from the 5th of every month till the end of the month. If you deposit money for investment on or before the 5th of the month, then you can get interest on the entire amount of that month. Whereas if the investment is made after the 5th, then you can get the benefit of interest only on the lowest balance between 5th to 30th.

Tax benefits in PPF

PPF falls under the Triple-E (Exempt-Exempt-Exempt) category. This means that it provides tax exemption at three levels. First – you will get tax exemption under section 80C on investment up to ₹ 1.5 lakh every year. Second – the interest received on the investment will be completely tax-free and third – no tax is to be paid on the entire amount received on maturity of 15 years. This is the reason why PPF is considered more beneficial than options like FD.

Avoid premature withdrawals

PPF is a long term and safe investment scheme with a maturity timing of 15 years. However, in urgent situations, you can make partial withdrawals after 5 years, but doing so may affect the compound interest you get on your investment.

The post Maximize Your PPF Interest: The Secret of Depositing Before the 5th first appeared on Rightsofemployees.com.

Will the government reduce the interest on PPF from 7.1% to 6.50%? The government is going to review the interest rates of small savings schemes on 30 June 2025. This includes many schemes like Public Provident Fund (PPF), National Savings Certificate (NSC), Senior Citizen Savings Scheme (SCSS). There has been no change in the interest rates of these schemes since the beginning of the year, but now there is a possibility of a cut in them. The reason for this is that so far this year, the Reserve Bank has cut the repo rate by a total of 1%, due to which the bond yield along with fixed deposits has also come down.

Currently, PPF is getting 7.1% interest, which is the lowest in the last 50 years. The last time the interest rate was less than 7% was before 1974. If it is reduced this time, then this rate can go below 6.5%, which can be disappointing for investors.

Will we get 6.5% interest on PPF?

To decide the interest rate of PPF, the government considers the average yield of 10-year government bonds as the basis and adds a margin of 0.25% to it. In the last quarter, the 10-year bond yield has been around 6.319%. If we add 25 basis points to it, the new rate of PPF becomes 6.569%. However, it is not necessary to follow this formula. That is, whether the government implements it or not, it depends on the government.

Will the scheme be attractive for the middle class?

Meanwhile, it is also important to note that PPF is a long term scheme, in which the money is locked for 15 years. The government wants to keep it a stable and reliable investment option, so that this scheme remains attractive for the middle class and those planning for retirement.

Will the government cut small savings schemes?

Some experts believe that even though the bond yield has come down, the government can avoid a huge cut in interest rates. The reason for this is that already the return on PPF is less than other schemes such as Senior Citizen Scheme (8.2%), Sukanya Yojana (8.2%) and Kisan Vikas Patra (7.5%). If the rate of PPF decreases further, investors may turn to other options.

When did PPF give less than 7% interest?

Also, the interest rate on PPF has remained constant at 7.1% since 2020, while there have been many changes in market rates during this period. This can also mean that the government did not want to affect the savings of the general public despite market pressure. Talking about history, PPF was started in 1968 and in the first few years the interest rate was around 5%. From 1974 this rate went above 7% and then it kept increasing for the next several decades. Between 1986 and 1999, the interest rate had reached 12%. But after that it kept falling continuously.

Now the government will take a decision on interest rates on June 30 after looking at the latest situation. If you are planning to invest in PPF or any other small savings scheme, then it can be a wise decision to invest before June 30, so that the profit can be locked at the current rate.

Most Read Articles:-

• US Visa Rules: How will Indians get US visa now, what are the new guidelines?

• Amazon owner Jeff Bezos’ wedding card surfaced, people are making fun of it

• Microsoft Layoff : Microsoft is going to do layoffs again. In May, the company fired 6,000 employees.

• Haryana government has announced to implement UPS from August 1. Details Here

• Train Cancelled Alert: Railways canceled many trains on this route for two weeks, check list here

The post PPF Interest Rate: Will the govt reduce the interest on PPF from 7.1% to 6.50%? read full details first appeared on Rightsofemployees.com.

Public Provident Fund (PPF): A reliable savings option

Public Provident Fund i.e. PPF is for those who want to invest for a long time. This scheme comes with a lock-in period of 15 years, which can be extended for 5-5 years later. Currently, PPF is getting an interest rate of 7.1%, which increases every year on a compounded basis. In this scheme, you can invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh every year.

The biggest advantage of PPF is that it is a great means of tax saving. The amount invested in it, the interest received on it and the amount received on maturity, all three are tax free under Section 80C of the Income Tax Act. If you want to save for your child’s future or retirement, then PPF is a safe and beneficial option. Apart from this, you can easily start it in any post office or bank.

Senior Citizen Savings Scheme (SCSS)

Senior Citizen Savings Scheme is a boon for people above 60 years of age. This scheme is one of the highest return giving post office schemes with an interest rate of 8.2%. In this, you can invest a minimum of Rs 1,000 and a maximum of Rs 30 lakh. Its duration is 5 years, which can be extended for 3 years later.

The special thing about SCSS is that it pays interest on a quarterly basis, which is beneficial for those elderly people who want regular income. The amount invested in it also gets tax exemption under section 80C. If you are looking for a reliable source for your expenses after retirement, then SCSS is right for you. To start it, you have to apply in your nearest post office with Aadhaar, PAN and age proof.

National Savings Certificate (NSC)

National Savings Certificate (NSC) is for those who want to invest for 5 years. This scheme offers an interest rate of 7.7%, which increases on an annual compounding basis. You can start investing with a minimum of Rs 1,000, and there is no maximum investment limit.

A big advantage of NSC is that investment in it is tax exempt under Section 80C. However, the interest received on maturity is taxable. This scheme is good for those who want to grow their money in the medium term, such as preparing for children’s education or any big expense. NSC can be purchased from any post office, and it can also be opened in the name of a minor.

Sukanya Samriddhi Yojana (SSY)

Sukanya Samriddhi Yojana is specially designed for daughters. This scheme gives an interest rate of 8.2%, which is one of the most attractive schemes of the post office. In this, an account can be opened in the name of a daughter below 10 years of age. The minimum investment is Rs 250 and the maximum is Rs 1.5 lakh per year.

The duration of this scheme is 21 years, but investment has to be made only for 15 years. After this, the interest keeps increasing automatically. Investment, interest and maturity amount in SSY, all three are tax free. If you want to save for your daughter’s education, marriage or future, then this scheme is perfect for you. To start this, you have to submit your daughter’s birth certificate and KYC documents in the post office.

Post Office Time Deposit (POTD)

Post Office Time Deposit or Fixed Deposit is for those who want to invest for different periods. The scheme is available for tenures of 1, 2, 3 and 5 years. Interest rates vary depending on the tenure: 6.9% for 1 year, 7% for 2-3 years, and 7.5% for 5 years.

Investments in 5-year time deposits are eligible for tax exemption under Section 80C. You can start investing with a minimum of Rs 1,000, and there is no maximum limit. This scheme is good for those who want a safe investment like a bank FD, but with a government guarantee. Interest is compounded on a quarterly basis and is paid on maturity.

Post Office Monthly Income Scheme (POMIS)

Post Office Monthly Income Scheme is for those who want a fixed income every month. This scheme offers an interest rate of 7.4%, and is for a tenure of 5 years. You can invest a minimum of Rs 1,000 and a maximum of Rs 9 lakh (single account) or Rs 18 lakh (joint account).

The specialty of this scheme is that the interest is deposited in your bank account every month. This is beneficial for those who want income for regular expenses after retirement. However, this scheme does not provide the benefit of tax exemption. To start it, you have to submit KYC documents and investment amount in the post office.

Kisan Vikas Patra (KVP)

Kisan Vikas Patra is an investment that doubles your money in 115 months (about 9.5 years). This scheme offers an interest rate of 7.5%. You can start investing with a minimum of Rs 1,000, and there is no maximum limit.

The interest on KVP grows on a compounded basis and is paid on maturity. This scheme is good for those who want to grow their money in the long term. However, it does not offer the benefit of tax exemption. It can be purchased from any post office, and can also be transferred to another person.

Post Office Recurring Deposit (RD)

Post Office Recurring Deposit is for those who want to invest a small amount every month. This scheme offers an interest rate of 6.7%, and is for a tenure of 5 years. You can start investing with a minimum of Rs 100 per month.

The interest of RD is compounded on a quarterly basis. This scheme is good for those who want to save in a disciplined manner. There is no benefit of tax exemption in this, but it is a safe option for small investors. To start this, you have to fill a simple form in the post office.

Post Office Savings Account

Post Office Savings Account is a normal savings account that offers an interest rate of 4%. You can open an account with a minimum of Rs 500. There is no maximum investment limit in this account, and interest is paid on an annual basis.

This account is good for those who want to start basic savings. However, it does not offer the benefit of tax exemption. It can be opened in any post office with Aadhaar and PAN card.

Investing in Post Office: A Safe Option

These nine post office savings schemes have something for people of all ages and classes. Whether you want to secure your daughter’s future, plan for retirement, or create a large fund from small savings, these schemes are for you. The Government of India guarantee and attractive interest rates make them risk-free and reliable. If you want to start investing, visit your nearest post office and learn more about these schemes. Your money will not only be safe, but will also grow over time.

The post Post office hit Scheme: Guaranteed income in these 9 govt schemes, interest up to 8.2% first appeared on Rightsofemployees.com.

Although lakhs of people invest in it, a question that often comes up is whether a person can have more than one PPF account in his name?

What do the government rules say? Know important information and new updates related to PPF account in this news—

Can a person have two PPF accounts?

According to the government rules, any person can open only one PPF account in his name . Even if you try to open the account in different banks or post offices, this rule applies everywhere.

If someone opens another account in his name by mistake, it will be considered invalid. In such a case, the amount deposited in that account will be returned to you, but no interest will be given on it.

Can I open a PPF account in the name of children?

Yes, you can open a PPF account in the name of a minor child. This account is operated by the guardian (parent or legal guardian). However, there is a necessary limit with this facility.

A maximum of ₹1.5 lakh can be deposited in a financial year in both parent and child accounts combined.

For example:

If you have deposited ₹1 lakh in your account, then in the same year you can deposit only ₹50,000 in your child’s PPF account.

You will not get a joint account, if you open two accounts then you will not get any interest
Investors need to be cautious about the new rules regarding Public Provident Fund (PPF). This scheme is completely individual, that is, you cannot open a joint account with anyone in it – neither with your spouse nor with your child.

As per the government guidelines, a PPF account can be opened only in the name of one person.
This rule is so strict that even a joint account between husband-wife or parent-child is not valid.

If a PPF account is opened in the name of a minor child, only the child’s name is registered as the account holder. The guardian only operates the account—but the account will be considered in the name of the child only.

Opened a second PPF account by mistake? Don’t panic, do this important work immediately
If you have accidentally opened two PPF accounts, there is no need to panic-but it is very important to take the right steps at the right time.

According to government rules, only one PPF account is valid in the name of a person. If for some reason you have opened another account—be it in another bank or post office—it will be considered a violation of the rules.

What to do if a mistake has been made?

• First of all, go to the bank or post office where the second account is opened and inform them immediately.
• If necessary, you can also contact the Finance Ministry.
• Usually in such a situation the other account is closed and the money deposited in it is returned to you.
• But keep in mind—you won’t earn any interest on the money deposited in the second account.

Why is PPF so popular?

• This is a government scheme, which gives guaranteed returns.
• Investments can be made from ₹500 to ₹1.5 lakh annually.
• The interest rate is currently 7.10% per annum (for FY 2024-25).
• The entire amount of investment, interest and maturity is tax free (EEE status).

The post PPF Rule: Have you opened another PPF account by mistake? Don’t panic, do this important work immediately first appeared on Rightsofemployees.com.

This scheme is so attractive that many people want to open more than one PPF account. The question is whether this can be done?

Can you open two accounts

According to the rules of PPF Scheme, 1968 (now PPF Scheme, 2019), a person can open only one PPF account in his name at a time. This means that a person cannot open more than one PPF account in his name in one bank or different banks or post offices. If a person opens more than one PPF account, then as soon as it is detected, all the accounts except the first account will be considered invalid. The money deposited in them will be returned to the person.

Can a PPF account be opened for a minor?

A person cannot open two PPF accounts in his name, but he can open a PPF account for a minor child. The person will be the guardian of this account. But, it is important to keep in mind that a contribution of more than Rs 1.5 lakh cannot be made in a financial year in your account and your minor child’s account. This can be understood with the help of an example. Suppose you contribute Rs 1 lakh in your PPF account, then you can contribute only Rs 50,000 in your minor child’s PPF account.

Can a joint PPF account be opened?

A PPF account can be opened only in an individual’s name. A PPF account cannot be opened in the name of two people. This means that if a person wants to open a joint account with his wife or son/daughter, then it will not be allowed.

What are the benefits of PPF?

PPF is such a scheme that if you run it till maturity, you can create a big fund. Deduction is allowed on investment in PPF. Secondly, interest earned in PPF scheme is also not taxable. A person can open a PPF account and claim deduction on maximum contribution of Rs 1.5 lakh in a financial year under section 80C. But, you have to keep in mind that this deduction is available only in the old regime of income tax.

Related Articles:-

Waqf Act SC Hearing: No New appointment in Waqf till further orders, SC gives one week’s time to govt

Post Office’s great scheme, you will get Rs 16,650 every month

The post PPF: Can you open more than one PPF account? Know what the rules say first appeared on Rightsofemployees.com.

This scheme is considered very good for collecting money in the long term. Due to this, many people want to run this scheme for more than 15 years. For this, the option of PPF extension is available. PPF extension is done for 5 years at a time. But how many times can this extension be done? Many people are not aware about this. Know about it here.

There are two ways of extension

In case of PPF extension, the investor has two options – first, account extension with contribution and second, account extension without contribution. If you do not withdraw the amount after the maturity of 15 years, then your account gets extended automatically. The advantage of this is that whatever amount is deposited in your PPF account, you keep getting interest on it as per the calculation of PPF and tax exemption also remains applicable. Apart from this, you can withdraw any amount from this account anytime and in any amount. If you want, you can even withdraw the entire amount.

When does extension happen in 5-5 year blocks?

If you want to deposit a lot of money through PPF, then you will have to get an account extension with contribution. Extension with contribution is done for 5 years at a time. Every time you extend it, it will be extended in blocks of 5 years each.

How many times can an extension be done?

You can extend your PPF account as many times as you need. There is no limit for this at present. To extend the account with contribution, you will have to submit an application to the bank or post office where you have the account. You will have to submit this application before the completion of 1 year from the date of maturity and fill a form for extension. The form will be submitted in the same post office/bank branch where the PPF account has been opened. If you are unable to submit this form on time, you will not be able to contribute to the account.

Related Articles:-

New Vande Bharat to pass through world’s highest railway bridge; Know the full details

New Passport making rules have changed, check the list of required documents before applying

New Aadhaar App Verify Your Identity Through QR Code, Know how it works

The post PPF Extension Rules: How many times can you extend PPF after maturity? first appeared on Rightsofemployees.com.

PPF Double Interest: Investing in Public Provident Fund (PPF) is a great option for good interest and tax saving. Most Indians like to invest in this scheme. It comes with a government guarantee. The special thing is that this investment has been placed in the EEE category. This means that your investment, interest and maturity amount are all completely tax free. Tax exemption is available on investment of up to Rs 1.5 lakh annually in PPF. But, you can increase this investment and you can also get the benefit of double interest. Let’s understand.

How is investment doubled in PPF?

Those who claim the old tax regime in PPF get tax exemption on investment of up to Rs 1.5 lakh under Section 80C of Income Tax. The maximum investment limit in Public Provident Fund is Rs 1.5 lakh. You can deposit money 12 times a year. But, here is a useful thing for married investors. If you open PPF in the name of your partner, then you can double the investment in a financial year and also avail the benefit of interest on both the accounts.

What are the benefits of investing in PPF?

Experts say that by opening a PPF account in the name of his life partner, the investor can invest in PPF instead of his other investment options. In such a situation, he will have two options. The first one can deposit up to Rs 1.5 lakh in his account. At the same time, the second one can also deposit Rs 1.5 lakh in the name of the partner in a financial year. Both these accounts will get different interest. At the same time, tax exemption of up to Rs 1.5 lakh can be taken on any one account. In such a situation, your PPF investment limit will be doubled to Rs 3 lakh. Due to coming under the EEE category, the investor will also get the benefit of tax exemption on PPF interest and maturity amount.

Clubbing provisions have no effect

Under Section 64 of Income Tax, any amount or gift given by you to your wife will be added to your income. However, in the case of PPF, which is completely tax free due to EEE, the provisions of clubbing have no effect.

Tricks for married people

At the same time, when your partner’s PPF account matures in the future, the income from your initial investment in your partner’s PPF account will be added to your income year after year. Therefore, this option also gives married people an opportunity to double their contribution to the PPF account. The interest rate of PPF for the April-June 2025 quarter is fixed at 7.1 percent.

Related Articles:-

RBI New Rule: Banks must pay 8% interest to retired govt staff for pension delays; check details

Passport New Rule: Major change in the process of adding spouse’s name in the Passport

Rain High Alert! Torrential rain started in this state, hail fell in many districts

The post PPF Double interest benefit invest with this trick, know how it works first appeared on Rightsofemployees.com.

If you are investing in Public Provident Fund (PPF), then there is good news for you. Union Finance Minister Nirmala Sitharaman announced on Thursday that there will be no charge for adding or changing a nominee in a PPF account. The government has made the necessary changes by issuing a notification on April 2, 2025.

Nirmala Sitharaman posted on social media platform Twitter that it has recently been noticed that some financial institutions are charging fees for adding nominee details. The nominee has a legal right over the funds of the original account holder. Therefore, the government has amended the ‘Government Savings Promotion General Rules 2018’ and abolished this fee system.

According to a government notification, the fee of Rs 50 charged for changing or cancelling a nominee under the Small Savings Scheme has now been completely waived. The Finance Minister said that under the recently passed Banking Reforms Bill 2025, a maximum of 4 nominees can be appointed for deposited money, assets in lockers or other important items.

Recently was informed that a fee was being levied by financial institutions for updating/modifying nominee details in PPF accounts.

Necessary changes are now made in the Government Savings Promotion General Rules 2018 via Gazette Notification 02/4/25 to remove any charges on… pic.twitter.com/Hi33SbLN4E

— Nirmala Sitharaman (@nsitharaman) April 3, 2025

How to update nominee details in PPF account?

You can update the nominee details in your PPF account by filling Form-10. This process can be done both online and offline. Some banks like SBI, HDFC and ICICI offer this facility through internet banking.

Procedure for updating nominee online:

• Login to your bank’s internet banking portal.
• Go to the PPF account section.
• Click on the option “Nominee Update” or “Modify Nomination”.
• Fill in the information of the new nominee (name, relationship, date of birth, etc.).
• Authenticate the process through OTP or login credentials.
• Submit your request and save the acknowledgement.

Train Ticket Rules : 5 or 12 years, when will the money be charged for children’s train tickets

The post Good News for PPF holders! Big relief from Finance Minister, big decision of the government for account holders first appeared on Rightsofemployees.com.

“Recently, it has been reported that financial institutions are charging fees for adding/modifying details of nominee in PPF accounts,” the finance minister wrote on the social media platform ‘X’.

‘Nominee’ has legal right over the amount of the original account holder. He said that necessary changes have been made in the Government Savings Promotion General Rules 2018 through the gazette notification dated April 2, 2025 to remove any fee on change in information related to ‘nominee’ for PPF accounts. In the gazette notification, the fee of Rs 50 for cancellation or change of nomination for government-run small savings schemes has been abolished.

Recently was informed that a fee was being levied by financial institutions for updating/modifying nominee details in PPF accounts.

Necessary changes are now made in the Government Savings Promotion General Rules 2018 via Gazette Notification 02/4/25 to remove any charges on… pic.twitter.com/Hi33SbLN4E

— Nirmala Sitharaman (@nsitharaman) April 3, 2025

He said, “The recently passed Banking Amendment Bill 2025 allows a maximum of four people to be made ‘nominees’ for payment of depositors’ money, goods kept in safe custody and safety lockers.” Another change in the bill relates to redefining the term “substantial tax” of a person in the bank. There is a provision to increase this limit from the current Rs 5 lakh to Rs 2 crore.

The current rate was fixed about six decades ago. The law also talks about increasing the tenure of directors (except chairman and whole-time director) in cooperative banks from eight years to 10 years, so that it can be harmonized with the Constitution (97th Amendment) Act 2011.

Related Articles:-

DA Hike: Big news for central employees! 3 months’ DA arrears will come in this month’s salary

Salary hiked: Employees’ salary hiked by up to 7%, appraisal bonus announced

IMD Alert! Weather pattern changed across the country, alert of rain and storm in these states

The post PPF Account Holders: Now you don’t have to pay for this thing, the govt has made big changes first appeared on Rightsofemployees.com.

If you invest in Public Provident Fund (PPF), which is one of the best investment options, then this news is very special for you. Actually, the 5th of the month is very special for those who invest in this fund. If you make your monthly investment before 5 April, then you also get the full interest of that month, but if you are unable to do so, then you do not get this interest. In such a situation, you have a chance till 5 April 2024 to complete this work. Let us understand its complete calculation in detail…

PPF is a better option for safe investment.

Most professionals invest in PPF for tax saving but if you invest wisely, you will be able to get great returns. First of all, invest in PPF on a monthly basis and make sure to deposit the money by the 5th of every month so that you will get the interest for that month as well. With investment in PPF, the maturity amount and interest are also tax free. It is a better way of safe investment in the long term and to create a big fund. Investment in PPF account gets a tax deduction of Rs 1.50 lakh under section 80C.

5th of the month is special for investment.

If you invest lump sum in PPF at the beginning of every financial year, then investing by 5th April will prove to be even more beneficial for you. Talking about the reason behind this, interest is calculated on the 5th of every month in the PPF account. It clearly means that if you deposit a lump sum amount by 5th April at the beginning of every financial year, then you can get the benefit of interest for the whole month.

If a person invests in a PPF account by the 5th of the month, then he gets the benefit of interest for the entire month on the deposited amount. Whereas, if the investment is made after the 5th, then you get the benefit of interest only on the lowest balance between the 5th and the 30th.

This is the calculation of benefits

Interest on PPF account is calculated on a monthly basis, but it is deposited in the account only at the end of every financial year. Talking in detail, this time if you deposit Rs 1.5 lakh in your PPF account before April 5, 2025, then the entire amount will be taken into account for calculating interest for that month. That is, based on the current interest rate of 7.1%, you will get an interest of Rs 10,650 annually.

If you complete the transaction after 5 April, you will not get the interest for the first month. This means that you will get interest for only 11 months of the financial year except April and on calculation according to the interest rate, it will be Rs 9,762.50 on a deposit amount of Rs 1.5 lakh.

Related Articles:-

Post Office’s invest in this scheme, You will get fixed interest of ₹ 5550 every month

Bank holidays: There will be 2 holidays in a week, banks will be open for 5 days, new rules are about to come into effect ?

Bank Rules: RBI issues new circular on bank guarantee while taking loan, know all the important things

The post PPF Investment: If you deposit money in PPF then remember the date of 5th April, Details Here first appeared on Rightsofemployees.com.

By investing in the savings scheme of the post office , you can get a tax exemption of up to Rs 1.5 lakh under section 80C of the Income Tax along with great returns. The current financial year is ending by March 31. Before this, you can invest and get tax exemption.

If you are planning to invest, then we are telling you about the 5 best savings schemes of the post office. However, it is important to note that the exemption of up to Rs 1.5 lakh per year under section 80C is available only under the old income tax system. Those who opt for the new income tax system do not get any exemption under section 80C.

Public Provident Fund (PPF)

PPF is a long-term investment option in India, which offers tax exemption under 80C. Investment can be started from Rs 500. You can get tax exemption under section 80C by investing up to Rs 1.5 lakh annually in PPF. The interest rate on PPF for the January-March 2025 quarter is 7.1%.

National Savings Certificate (NSC)

NSC is a safe investment option that offers tax exemption as well as assured returns. Investors can claim deductions for investments up to Rs 1.5 lakh annually. The scheme accepts investments starting from Rs 1,000 with no upper limit. For the January-March 2025 quarter, NSC offers 7.7% interest, which is compounded annually but payable on maturity.

Sukanya Samriddhi Yojana (SSY)

SSY is an investment scheme launched by the government for girls, which offers great returns along with tax exemptions. Investors can invest between Rs 250 and Rs 1.5 lakh, with investments up to Rs 1.5 lakh being eligible for Section 80C deduction. Both the interest earned and maturity proceeds remain tax-free. For the January-March 2025 quarter, SSY offers 8.2% interest, calculated with annual compounding.

Senior Citizen Savings Scheme (SCSS)

SCSS is a government-backed retirement savings scheme that offers tax exemption as well as better returns. You can invest in this scheme from a minimum of Rs 1,000 to a maximum of Rs 30 lakh. Investment up to Rs 1.5 lakh is eligible for tax exemption under Section 80C. The interest rate on SCSS for the January-March 2025 quarter is 8.2% per annum.

Post Office Time Deposit (POTD)

For the 5-year POTD plan, investments up to Rs 1.5 lakh are eligible for Section 80C deduction, though the interest remains taxable. One can invest in this scheme with a minimum investment of Rs 1,000. There is no maximum limit. The interest rate on Post Office Time Deposit (5 years) for the January-March 2025 quarter is 7.5% (interest is payable annually but calculated on a quarterly basis).

Related Articles:-

• TDS Status: Simple Steps to Check TDS Status by PAN Card and Form 26S
• US Green Card Holders Deportation: Green card holders can also be deported from America, Check details
• Landlords New Rule: Government has issued guidelines for landlords, check new guideline
• Bank Holiday: All banks will remain closed for 3 days on 13, 14 and 15 March due to Holi, check the complete list of states
• New Shuttle Service: Metro will start New shuttle service on THIS busy route. Know route & More

The post Post Office’s Invest in THESE 5 scheme, get income tax exemption of Rs 1.5 lakh under 80C first appeared on Rightsofemployees.com.

Currently, 7.1 percent interest is being given on PPF. Sukanya Samriddhi Yojana account can be opened only in the name of a girl child below the age of 10 years by the parents or legal guardian. In both these schemes, it is necessary to deposit a minimum amount in a financial year. Therefore, if you do not make the minimum investment in both these schemes by March 31, your accounts may become inactive (closed) and you may have to pay a penalty to reactivate them.

Public Provident Fund (PPF): The minimum deposit for PPF account holders is Rs 500, which means you have to invest at least Rs 500 in it in a financial year. If you do not do this, your account may be closed. If you do not deposit this money, you will have to pay a penalty of Rs 50. Therefore, if you want to keep the account active and avoid the penalty, deposit the minimum required amount before March 31, 2025.

The minimum deposit amount in the Sukanya

Samriddhi Yojana is also Rs 250 per financial year. Currently, the interest rate in this scheme is 8.2%. If it is not deposited in the financial year, then the account can be closed. If the amount is not deposited on time, then an additional fee of Rs 50 will have to be paid. The SSY account remains valid for 21 years or can be closed on the marriage of the girl after the age of 18. However, partial withdrawal of money for higher education is allowed after the daughter turns 18.

Benefit of Tax Exemption

Investing in both PPF and SSY schemes provides the benefit of tax exemption under Section 80C of the Income Tax Act. Under this, tax can be saved on annual investment of up to Rs 1.5 lakh.

Related Articles:-

• Govt New Order: Don’t share your SIM, government issued advisory
• SEBI extended the time limit for giving suggestions on unclaimed amount, what is the new date?
• Public Holiday- Government declared 4 days holiday in schools, see new notification
• Toll tax will be deducted even if FASTag is not recharged! NHAI is bringing new technology
• State Bank of India introduced ‘Nari Shakti’ Platinum Debit Card for Women – Key Feature & benefits

The post PPF and Sukanya Yojana account holders should do this work by 31st March, otherwise the account will be closed first appeared on Rightsofemployees.com.

New Delhi: If you have a Public Provident Fund (PPF) and Sukanya Samriddhi Yojana (SSY) account and you have not deposited money in this financial year, then your account may be closed. To keep the account active, quickly deposit some money in it by 31 March 2025. If money is not deposited in PPF and SSY, these accounts may become inactive i.e. closed. If you do not deposit any amount, then you will have to pay a penalty to get it activated again. In this article, we are telling you how much minimum amount you have to deposit in the account.

Public Provident Fund (PPF)

The minimum deposit for those holding a PPF account is Rs 500. In this, you have to invest at least Rs 500 in a financial year. If you do not do this, your account may be closed. Let us tell you that the last date to put money in it is 31 March 2025, before that you should put the minimum balance in it. If you do not put money by the last date, then you will have to pay a penalty of Rs 50 per year. For information, let us tell you that currently 7.1% interest is being given on PPF account.

If you do not deposit the minimum deposit in any financial year, then the PPF account will be closed. Apart from this, you will not get a loan on this account nor will you be able to withdraw money from this account. Along with this, if you do not put money by the last date, then later you will have to pay a penalty of Rs 50 per year to start the account.

Sukanya Samriddhi Scheme

If you have an account in Sukanya Samriddhi Yojana, you have to deposit a minimum of Rs 250 every year. If you are unable to deposit this amount, you will have to pay a fine of Rs 50. Let us tell you that currently 8.2% interest is being given on Sukanya Samriddhi Yojana account.

If the minimum deposit is not made in Sukanya account, the account will be considered a default account. If you do not deposit money by the last date, then you will have to pay a fine of Rs 50 every year to start the account later.

Benefits of both schemes

Let us tell you that by investing in both these schemes, you get the benefit of tax exemption under section 80C of the Income Tax Act. Under this, you can get tax exemption on annual investment of up to Rs 1.5 lakh. This means that you can reduce up to Rs 1.5 lakh from your total income through section 80C.

Related Articles:-

• What is APAAR ID card? Key Benefit & register like this
• PM SVANidhi scheme: Know about eligibility and Rs 30,000 credit cards
• EPFO maintains interest rate on PF deposits, PPF Sukanya may also be cut like small savings schemes
• RBI imposed a fine of 66 lakhs on this bank, know what is the matter
• New Rule: From today, these rules have changed including bank transactions, FD interest rates, UPI payments…

The post PPF and SSY Yojana account holders should do this work before 31 March 2025, otherwise your account will be closed first appeared on Rightsofemployees.com.

Its purpose is to provide guaranteed returns to the investor with tax benefits under Section 80C of the Income Tax Act, 1961. Any person can open a PPF account in a post office or bank with a minimum investment of Rs 500. If you want, you can also open a PPF account in the name of your wife. Let us understand how any investor can get a tax free income of Rs 1,06,828 every month from PPF?

What is PPF?

PPF is a retirement focused scheme that offers guaranteed returns and tax benefits under Section 80C of the Income Tax Act, 1961. Anyone can invest in this small saving scheme. Salaried class and business people can invest in it. Under this, you can invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh in a financial year.

What is the maturity period of PPF?

The initial lock-in period of PPF is 15 years. After 15 years, account holders can extend their account for unlimited blocks of 5 years each. Any PPF account holder can withdraw the account once during a financial year after five years. In case of need of money, you can withdraw 50 percent of the remaining amount on credit at the end of the fourth year or at the end of the previous year, whichever is less. That is, in 2023-24, up to 50% of the remaining amount can be withdrawn till 31.03.2023 or 31.03.2024, whichever is less.

How to get Rs 1.06 lakh every month?

To get Rs 1,06,828 every month from PPF, one has to start investing Rs 1.50 lakh in every financial year and continue it till the maturity period of 15 years. To get maximum benefit of interest, investment should be made between April 1 and April 5 in every financial year. This investment should be of Rs 1.5 lakh in lump sum.

Maturity after 15 years

If you invest Rs 1.5 lakh every year, then in 15 years you invest a total of Rs 22.50 lakh. During this time, you will get interest of about Rs 18.18 lakh on the money. According to this, the maturity amount will be Rs 40,68,209. Investors can take a five-year extension on this and can continue investing Rs 1.50 lakh every year as before.

Maturity after 20 and 25 years

In 20 years, the investment amount will increase to Rs 30,00,000 and interest of Rs 36,58,288 will be received on it. In this way, the maturity amount will be around Rs 66,58,288. Here the investor can take another extension of five years and continue investing Rs 1.5 lakh annually. Similarly, in 25 years, the interest on the investment amount of Rs 37.50 lakh is Rs 65,58,015. The total maturity amount is Rs 1,03,08,015.

What will be the maturity after 29 years?

If you keep investing Rs 1.5 lakh every year in PPF for 29 years, then during this time you will deposit a total of Rs 43.50 lakh. During this time you will get interest of about Rs 99.26 lakh. That is, your maturity amount will be Rs 1 crore 42 lakh 76 thousand 621. Similarly, in 32 years the total investment will increase to Rs 48,00,000 and the interest will be around Rs 1,32,55,534. After 32 years, you will get Rs 1 crore 80 lakh 55 thousand 534 on maturity. You can stop your investment here.

Now you can withdraw the interest earned on this money every month. If you have extended this scheme for more than 15 years, then you can withdraw the interest only once every year. If you deposit the Rs 1 crore 80 lakh received on maturity in the bank and the bank gives you 7.1% interest annually, then you will get an interest of about Rs 15 lakh 4 thousand in a year. If you divide this interest into 12 months, then you will get about Rs 1 lakh 6 thousand every month.

(Disclaimer: All these calculations are based on estimates only. This is not any definite information on the basis of which you should take an investment decision. Consult an expert or your financial advisor before making any kind of investment.)

Related Articles:-

• 8th Pay Commission Rules: Will DA and DR become 0 as soon as the 8th Pay Commission is implemented? Know what are the rules
• Pension Guidelines: Army’s big decision to change name and date of birth in pension payment order
• 8th Pay Commission: When will state employees start getting revised salary? Salary will increase by 186%
• Income tax New Bill: New Income Tax Bill to simplify taxation in India, Likely to be introduced in the budget session of 2025
• Highest FD rate: These banks are giving the highest interest rate on FD, read this news before investing

The post PPF Interest Rate: You can get tax free income of Rs 106000 every month from Public Provident Fund first appeared on Rightsofemployees.com.

The government is offering an interest rate of 7.1% on it. This rate on PPF will be applicable from January 1, 2025 to March 31, 2025. The Department of Economic Affairs, Ministry of Finance had announced the interest on small savings schemes on December 31, 2024.

How to open PPF account?

Any person can open only one PPF account in a post office or bank. Apart from this, guardians can also open a PPF account for a minor or a mentally ill person. This scheme is a long term saving scheme. This scheme also provides tax benefits.

Interest Calculation Rules

According to the website of Punjab National Bank (PNB), monthly interest in PPF is calculated on the money that is deposited in the account by the 5th of the month. Interest is paid on the minimum amount maintained in the account from the 5th of the month till the end of the month.

Tax Benefits

Investment made in PPF is tax free up to Rs 1,50,000 under Section 80C of the Income Tax Act. Also, the interest and maturity money received from PPF is completely tax free. It is considered as one of the most tax saving investments.

Does one get interest on inactive PPF account?

Yes, the money deposited in the dormant account will continue to earn interest as per the interest rate applicable from time to time, whether the account holder reactivates it or not. This scheme helps PPF investors to create a big fund in the long run and save tax.

Now the interest rate on small savings scheme for January-March 2025 quarter

• Savings Deposit: 4%
• 1-year Post Office Time Deposit: 6.9%
• 2-year Post Office Time Deposit: 7.0%
• 3-year Post Office Time Deposit: 7.1%
• 5-year Post Office Time Deposit: 7.5%
• 5-year recurring deposit: 6.7%
• National Savings Certificate (NSC): 7.7%
• Kisan Vikas Patra (KVP): 7.5% (Maturity in 115 months)
• Public Provident Fund (PPF): 7.1%
• Sukanya Samriddhi Yojana (SSY): 8.2%
• Senior Citizen Savings Scheme: 8.2%
• Monthly Income Account: 7.4%

Small Savings Interest Rate

Small savings schemes are run by the government with the aim of encouraging citizens to save regularly. These are divided into three categories. First savings deposits, second social security schemes and third monthly income plans.

Savings Deposits: Like PPF and Post Office Savings.

Social security schemes: Like Sukanya Samriddhi and Senior Citizen Savings Scheme.

Monthly Income Plan: Like Monthly Income Account.

Related Articles:-

Blinkit Launches 10-minute ambulance service in Gurugram, You will get these facilities

Direct Flight Service: New Direct International Flight may soon be available to go from Indore to Bangkok

RBI’s New Guidelines: 3 Types of Bank accounts will be closed, Do this work immediately

The post PPF Interest Rate: You will get this interest on PPF from January to March 2025, check the interest rate first appeared on Rightsofemployees.com.

It said, “The interest rates on various small savings schemes for the fourth quarter of the financial year 2024-25 will remain unchanged from the rates notified for the third quarter of the financial year.

According to the notification, deposits under Sukanya Samriddhi Yojana will get an interest rate of 8.2 percent. The rate on three-year fixed deposits will remain at 7.1 percent being offered in the third quarter. Interest rates on Public Provident Fund (PPF) and Post Office Savings Deposit Schemes have also been retained at 7.1 percent and four percent respectively. The interest rate on Kisan Vikas Patra will be 7.5 percent and investments will mature in 115 months.

The interest rate on National Savings Certificate (NSC) will remain at 7.7 percent for the period January-March 2025. Like the third quarter, investments in Monthly Income Scheme will get 7.4 percent interest. There has been no change in interest rates for the last four quarters. The government last made changes in some schemes for the fourth quarter of FY 2023-24. The government notifies interest rates on small savings schemes run by post offices and banks every quarter.

Related Articles:-

Small Saving Scheme Interest Rate: Central govt has fixed the interest on small savings schemes for the January-March 2025 quarter

RBI Fixed Deposit Rules: Reserve Bank made these changes in fixed deposits from January 1, Check Details

New Rules 2025: Big relief for elderly people! Pensioners Can now Withdraw Their Pension From any Bank in India

The post New PPF Interest Rate: Govt has released the New rates of saving schemes like PPF-NSC, check it out instantly first appeared on Rightsofemployees.com.

Public Provident Fund (PPF) is a major investment vehicle in India. Due to the excellent interest, tax savings and no risk of money sinking, people invest a lot of money in this scheme. Any Indian citizen can start investing in PPF with Rs 500 per annum. An amount of up to Rs 1.5 lakh can be deposited in a PPF account in a financial year.

Tax exemption is available on investment in PPF under Section 80C. Apart from this, no tax is payable on interest income and the amount received at maturity. If the minimum amount of Rs 500 is not deposited in a financial year, the PPF account becomes inactive.

There are many facilities available on PPF account. In such a situation, if the account becomes inactive, then the loan facility and partial withdrawal also stop. If your PPF account is closed, then there is no need to panic. It can be easily reopened. PPF account is not only a safe investment, but it also provides many other benefits including tax savings and high interest rates. Therefore, make sure that your PPF account is not inactive and deposit the minimum amount in it every year.

 Start the account like this

• Go to the bank or post office : First of all, go to the bank or post office where your PPF account is opened.
• Fill out the form : To reactivate the account, a form will need to be filled out.
• Deposit the outstanding amount: The outstanding amount for the years in which you have not deposited money will have to be paid.
• Paying a fine: A fine of Rs 50 will also have to be paid for each financial year.

How much will be the penalty?

Suppose your PPF account is inactive for 4 years, then you will have to deposit Rs 2000 (Rs 500 per year) for 4 years. Also, you will have to pay Rs 200 (Rs 50 per year) for four years.

The post PPF Account Has been Closed, will I have to Pay Money to Get it Reactivated? first appeared on Rightsofemployees.com.

Investment in the scheme gives good returns (PPF maturity calculator) and tax saving option. If you are doing retirement planning or want to earn good income from investment in the long term, then you can choose this scheme. The scheme is more popular by the name of PPF.

Why is PPF considered the best option?

Public Provident Fund (PPF) is most popular because the money deposited in it, the interest received and the amount received on maturity (PPF Maturity Calculator) are completely tax free. This means that it is kept in the EEE category. EEE means Exempt. There is an option to claim tax exemption on deposits every year. No tax has to be paid on the interest received every year. Once the account matures, the entire amount will be tax free.

Who can invest in PPF?

Any citizen of the country can invest in Small Savings Scheme (PPF). It can be opened in post office or any bank. A minimum of Rs 500 and a maximum of Rs 1,50,000 can be invested every financial year. Interest is calculated on an annual basis. However, interest is decided on a quarterly basis. Currently, 7.1% interest is being received on PPF.

The maturity period is 15 years. There is no facility to open a joint account in the scheme. However, a nominee can be made. There is also no option to open a PPF account in the name of HUF. In the case of children, the name of the guardian is included in the PPF account. But, it remains valid only till the age of 18.

How can PPF really make you a crorepati? ( Can PPF make you a crorepati? )

PPF is a scheme in which it is easy to become a millionaire. For this, regular investment is required. Suppose you are 25 years old and you have started PPF. If you deposit Rs 1,50,000 (maximum limit) in the account between 1st to 5th at the beginning of the financial year, then at the beginning of the next financial year, Rs 10,650 will be deposited from interest only. Meaning, on the first day of the next financial year, your balance will be Rs 1,60,650.

By doing the same again next year, the account balance will be Rs 3,10,650. Because, Rs 1,50,000 will be deposited again and then interest will be received on the entire amount. This time the interest amount will be Rs 22,056. Because, the formula of compound interest works here. Now suppose 15 years of PPF maturity have been completed, then there will be Rs 40,68,209 in your account. In this, the total deposit amount will be Rs 22,50,000 and Rs 18,18,209 will be earned only from interest.

If you want to become a Crorepati then invest even after maturity

PPF was started at the age of 25. On maturity of 15 years, at the age of 40, there is an amount of more than 40 lakh rupees in hand. But if the planning is for the long term, then the money will grow faster. After maturity in PPF, the account can be extended by 5-5 year extensions. If the investor extends the PPF account for 5 years, then the total amount will become Rs 66,58,288 by the age of 45. In this, the investment will be Rs 30,00,000 and the income from interest will be Rs 36,58,288.

At what age will you become a Crorepati?

The goal of becoming a millionaire will now be achieved. The PPF account has to be extended once again for another 5 years, i.e. till 25 years. Again, an annual investment of Rs. 1,50,000 will have to be made. At the age of 50, a total of Rs. 1,03,08,014 will be deposited in the PPF account. The investment in this will reach Rs. 37,50,000 and the interest will reach Rs. 65,58,015.

Interest earnings will exceed Rs 1 crore ( How does PPF generate high returns? )

Another feature of PPF is that you can do a 5-year extension any number of times. Now if the account is extended for another 5 years, then at the age of 55 you will have Rs 1 crore 54 lakh 50 thousand 910. The investment in this will be only Rs 45,00,000, but the interest income will exceed Rs 1 crore and the total income will be Rs 1,09,50,911.

Investment for 35 years will give 2 crore 26 lakh 97 thousand 857 rupees

If you have invested in it for retirement, then PPF will have to be extended for the last 5 years. This means that the investment will continue for a total of 35 years. In this case, maturity will be at the age of 60. In this case, the total deposit amount in the PPF account will be Rs 2 crore 26 lakh 97 thousand 857. The total investment in this will be Rs 52,50,000, while the interest income will be Rs 1 crore 74 lakh 47 thousand 857.

If you want to double your money then invest like this

When you retire at the age of 60, there will be no tax on the large amount of more than 2 crores deposited in PPF. Usually, if such a large amount is earned from somewhere else, then a hefty tax will have to be paid on it. If both husband and wife run the PPF account together for 35 years, then the total balance of both will be 4 crore 53 lakh 95 thousand 714 rupees.

Related Articles:-

Trains Cancelled: Railways has cancelled more than 70 trains on this route from 1 December to 28 February, see the full list here

FD rate Changed: IndusInd Bank has revised the interest rates of FD, check new rate here

Bank Holidays December 2024: Banks will remain closed for 17 days next month, When will you have holidays at your place?

The post PPF maturity calculator: Earn ₹1 crore 74 lakh in interest, get ₹2.26 crore on maturity: Know the easy formula first appeared on Rightsofemployees.com.

The scheme we are going to tell you about today is completely safe, you will not have to face any kind of market risks on the money invested in it. The name of this scheme is Public Provident Fund Scheme. This scheme is very popular in the country. It is also known as PPF. At present, you are getting an interest rate of 7.1 percent on investing in this scheme. In this episode, let us know about the Public Provident Fund Scheme in detail –

In the Public Provident Fund scheme, you can invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh annually. The maturity period of this scheme is for a total of 15 years.

However, after 15 years, you can extend your investment period for five years each. By investing in this scheme for a long period, you can accumulate a good amount of money.

To collect a huge amount of Rs 82.46 lakh, you first have to open an account in the PPF scheme. After opening the account, you have to save Rs 10,000 every month and invest Rs 1,20,000 annually in it.

You will have to make this investment for a full 25 years. If we calculate at the current interest rate of 7.1 percent, then at the time of maturity you will have Rs 82,46,412. This money will not only secure your future financially but you will also be able to fulfill important purposes related to your future with its help.

Related Articles:-

Public Holiday: Good news! Govt has declared a 4-day public holiday on Chhath from November 6

Public Holiday 2024: New holiday announced for employees, leave approved

Schools Holiday Alert! Schools closed in these states on Chhath Puja, see the full list here

The post Public Provident Fund: You Will Get 82 Lakhs Rupees By Just Investing Ten Thousand In PPF – Check Calculation first appeared on Rightsofemployees.com.

Currently, PPF offers 7.1% interest. The maturity period of a PPF account is 15 years, but it can be extended indefinitely in blocks of 5 years. This makes it an excellent option for building a retirement corpus.

If you invest Rs 12,500 every month in the Public Provident Fund, you can accumulate a good fund of around Rs 41 lakh during the investment period. You can contribute a minimum of Rs 500 and a maximum of Rs 1.5 lakh within a financial year. However, the contribution can be made only once per month.

Let us understand from PPF calculator how much return we will get Monthly Investment: Rs 12,500

Annual Investment:Rs 150000

Time Period:15 years

Interest Rate:7.1%

Invested amount:Rs 2250000

Total Interest:Rs 1818209

Maturity Value:Rs 4068209.

PPF accounts have a tenure of 15 years, but you can extend them in blocks of 5 years. However, if a PPF account holder uses the extension benefit and avails compounding benefits for the next 15 years, he can earn Rs 1.5 crore in 30 years.

Annual Investment:Rs 150000

Time Period:15 years

Interest Rate:7.1%

Invested amount:Rs 2250000

Total Interest:Rs 1818209

Maturity Value:Rs 4068209.

PPF accounts have a tenure of 15 years, but you can extend them in blocks of 5 years. However, if a PPF account holder uses the extension benefit and avails compounding benefits for the next 15 years, he can earn Rs 1.5 crore in 30 years.

Related Articles:-

Traffic Rules: How many times can a challan be issued in a day? Know these rules or else you will face trouble

New Rules 2024: These major changes will take place across the country from November 1, Know the new rules

JEE Main Age Limit: NTA removes age limit, what is the tie-breaking criteria?

The post PPF Calculator: Invest ₹12,500 per month in PPF and get around 41 lakh rupees in 15 years first appeared on Rightsofemployees.com.

This scheme has a lock-in period of 15 years. However, if needed, investors can extend this period for another 5 years. Today we will tell you about this government savings scheme…

The most important thing about PPF is that it is a tax-saving scheme. The amount deposited in PPF is exempted under Section 80C of the Income Tax Act. A maximum of Rs 1.5 lakh can be deposited in PPF annually. Apart from this, the interest received on the money and the amount received on maturity are not taxed, that is, PPF is a completely tax-free investment option.

How is interest calculated in PPF?

Interest on your PPF account is compounded annually and is credited at the end of the financial year. This calculation is based on the lowest balance available between the 5th and the last day of the month. Therefore, it is important that the PPF amount is credited to your PPF account before the fifth of every month to get maximum interest.

How will the investment double?

Let us explain to you with an example how investment in PPF can be doubled. Suppose that every month Rs 10,000 is deposited in your PPF account, that is, Rs 1.2 lakh is deposited in PPF in a year. The current interest rate in PPF is 7.1 percent and you deposit this amount continuously for 15 years. After 15 years, your total investment will be Rs 18 lakh. And at the current rate of 7.1 percent, you will get interest of Rs 13.56 lakh. That is, on maturity you will get more than Rs 31 lakh. This means that your amount will almost double and that too tax free.

Returns will double in PPF

The power of compounding works best when you start early
. The longer the money stays in a PPF account, the higher the interest rate. If possible, start investing in PPF early in your career to get the most benefit of compounding.

Invest more money:

The more money you invest in the long term, the more funds will be collected on maturity.

You can extend the limit after 15 years

After the initial lock-in period of 15 years, you can extend your PPF account in blocks of 5 years. Extending the account not only adds additional money to your deposit, but interest on the existing balance will also continue to accrue.

Deposit money regularly

Make regular deposits in your PPF account and avoid fund withdrawals if possible. Money in PPF doubles with patience. With consistent and long-term investments, you can take full advantage of this tax-free investment option.

Related Articles:-

Public holidays declared for 5 days in the first week of October. see list here

New Rules 2024: These 10 big changes will happen across the country from October 1, know the new rules

Income tax audit report deadline for FY24 extended to THIS date

The post PPF Calculator: Your money can double in this government scheme, know the method first appeared on Rightsofemployees.com.

Your PPF account matures in 15 years. If you want to open an account in PPF for investment, then this news can prove to be very important for you.

Because the Government of India has changed the rules related to PPF which will come into effect from October 1. The government had issued a circular regarding these changes last month. Which rules of PPF have been changed and how will it affect PPF account holders. Let us tell you all the information related to this.

Minor will get interest after 18 years

The government has changed the rules of PPF and decided that now the money deposited in a PPF account opened in the name of a minor will get interest equal to that of a post office savings account. Till the minor turns 18 years of age, the interest rate of PPF will not be applicable on the account. Along with this, the maturity date of the PF account will start from the date the minor attains majority.

Also Read: Pension eKYC: Pension will be available with arrears as soon as e-KYC is updated

Zero interest on NRI accounts without residency details

Under the changed rules of PPF, new guidelines have been issued for NRI’s PPF account. Currently, NRIs do not have to provide their residency details for a PF account. Despite this, they are given the same interest as the post office savings account.

But now this will change, after October 1, 2024, the interest rate in such accounts will become zero. That is why if any NRI has a PPF account, then first he should know about this rule and complete all the necessary actions.

Interest will be available in only one PPF account

If a person has more than one PPF account, then he will be given PPF interest only in the primary account. That too, interest will be given only on the money deposited within a fixed limit. Money more than that will be returned with zero interest.

Related Articles:-

Bank Locker Rule: RBI gave important information on Bank Locker, if you also have it then know it now

Pension eKYC: Pension will be available with arrears as soon as e-KYC is updated

New rules of Sukanya Samriddhi Yojana will be implemented from next month, know what will change

The post New PPF Rules from Oct 1: These PPF accounts will not earn any interest. Know why first appeared on Rightsofemployees.com.

The government issued a circular related to this change last month. What are these changes, what will be their impact? Before this, it would be better to know the basic things about PPF. PPF is a long-term investment scheme. Being a government scheme, investment in it is completely safe. Also, its returns are also attractive. PPF account matures in 15 years. The new rules will come into effect from October 1.

PPF interest rate will be applicable when the minor turns 18 years old

The government has said that the money deposited in a PPF account opened in the name of a minor will get the same interest as a post office savings account until the minor turns 18 years old. After that, the interest rate of PPF will be applicable in this scheme. The maturity period of this account will be calculated from the date the minor becomes an adult. Many people open PPF accounts in the name of minors.

Also Read: New Vande Bharat trains will run from these three cities from Saturday, see route…

Zero interest on NRI accounts without residency details from October

The government has also issued new guidelines for NRI’s PPF accounts. Currently, NRI’s PPF accounts that do not require residency details get the same interest rate as post office savings accounts. Now this interest rate will be available only till September 30, 2024. After that, the interest rate on such accounts will decrease to zero. Therefore, NRIs need to know about their accounts properly before the new rules come into effect from October 1. If they want, they can take the advice of a financial advisor in this regard.

PPF interest rate will be applicable only on primary account

If an investor has opened more than one PPF account, then the interest rate of PPF will be applicable only on his primary account. This interest will be paid on the maximum amount of annual investment allowed in this scheme. The excess amount will be returned to the investor with zero percent interest. The balance of the second account will be put in the primary account.

Related Articles:-

Govt Employees Salary: Govt has stopped the salary of 2,44,565 govt employees for the month of August

2000 rupee notes: RBI gave a big update regarding 2000 note, People have notes worth Rs 7,261 crore.

Great Pension: By investing Rs 55, you will get a pension of Rs 3000 every month. check details

The post New PPF rules from October 1, 2024: Three major changes to Public Provident Fund rules first appeared on Rightsofemployees.com.

The new rules will come into effect from October 1, 2024. According to the circular issued, 6 categories have been identified under the schemes, for which guidelines have been issued. These 6 categories and guidelines are as follows-

NSS-87 accounts

Accounts opened before April 2, 1990: The current scheme rate will apply to the first account. The balance in the second account will earn the current Post Office Savings Account (POSA) rate plus 2% interest. From October 1, 2024, both accounts will earn 0% interest.

Accounts opened after April 2, 1990: The current scheme rate will apply to the first account. The current POSA rate will apply to the second account. Both accounts will get 0% interest from October 1, 2024.

Also Read: Maximum and Minimum pension calculation under UPS and 8th Pay Commission: know how much pension you will get

More than 2 accounts: No interest will be paid on third and additional accounts. Principal amount will be refunded.

Public Provident Fund (PPF) accounts

Accounts opened in the name of a minor: POSA interest will be available till the minor turns 18. After that, the interest rate applicable for PPF will apply. Maturity will be calculated from the 18th birthday of the minor.

More than one PPF account: If the deposit amount is within the annual limit, the primary account will be charged the prevailing rate for the scheme. The balance of any secondary account will be merged with the primary account. The excess amount will be refunded with 0% interest. More than two additional accounts will earn 0% interest from the date of their opening.

Extension of PPF accounts by NRIs

Active NRIs who have PPF accounts that do not require residency details will receive POSA interest until September 30, 2024. After this date, the interest will be 0%.

Sukanya Samriddhi Accounts

In case of accounts opened by grandparents (not legal guardians), guardianship will have to be transferred to the legal guardian or biological parents.
If more than two accounts are opened in violation of the scheme guidelines, the additional accounts will be closed.
Accounts opened in the name of minor: Irregular accounts can be regularized with simple interest at prevailing POSA rate.
Important instructions to post offices

Verification: All post offices have been directed to collect PAN and Aadhaar details from the account holders or guardians, if not already available. Also, the system has to be updated before submitting the regularization request.

Post offices will have to inform account holders about these changes and guide them on how to comply with the rules.

Related Articles: 

Citizens complaints Deadline: Officers will settle people’s complaints within 21 days, new order issued

GST Update: GST taxpayers should do this work before 1st September, otherwise you will not be able to file GSTR-1

ITR processing delays reasons: Why your tax refunds are stuck? know details here

The post New rules are being implemented for PPF, Sukanya Samriddhi accounts from October 1 first appeared on Rightsofemployees.com.

Your options include Public Provident Fund (PPF), National Pension System (NPS), Sukanya Samriddhi Yojana (SSY), Monthly SIP in Equity Linked Scheme (ELSS), Employees Provident Fund (EPF), Tax Saving Fixed Deposits (FDs) and payment through life insurance premium.

Investors with low risk appetite and investors in lower tax brackets can try tax saving FDs. However, you need to remember that your money will be locked for five years. You can compare term deposit rates of different banks to find the best option. This is calculated on the basis of quarterly compounded interest rate. BankBazaar.com has collected data related to this. This data is of 26 June 2014.

Also Read: Budget 2024: Will senior citizens get 50% discount on train tickets again? know details here

Axis Bank, HDFC Bank and ICICI Bank are offering 7 percent interest on tax-saving FDs. If you have invested Rs 1.5 lakh in a tax-saving FD for 5 years at this rate, it will grow to Rs 2.12 lakh in the respective period. Similarly, Canara Bank is offering 6.70 percent interest on tax saving FDs. If you can invest Rs 1.5 lakh for 5 years at this rate, the tax-saving FD will grow to Rs 2.09 lakh.

Bank of Baroda, Punjab National Bank, State Bank of India and Union Bank of India are offering 6.5 percent interest rate on tax saving FD. At this rate, if Rs 1.5 lakh is invested in tax saving FD for five years, it will grow to Rs 2.07 lakh. Indian Bank’s rate on tax saving FD is 6.25 percent. According to this, if Rs 1.5 lakh is invested in 5 years, this FD will grow to Rs 2.05 lakh.

The tax FD rate of Bank of India is 6%, that is, if you deposit Rs 1.5 lakh in it, you will get Rs 2.02 lakh in 5 years. Reserve Bank (RBI) subsidiary Deposit Insurance and Credit Guarantee Corporation (DICGC) also gives fixed returns on FD of Rs 5 lakh.

The post Tax Saving FDs: These banks are offering 7% interest on 5-year term deposits first appeared on Rightsofemployees.com.

The central government has not made any change in the interest rates on Public Provident Fund (PPF) and other small savings schemes for the second quarter of the current financial year 2024-25. The government made this announcement regarding interest rates. The interest rates on various small savings schemes have been kept unchanged for the quarter starting July 1, 2024. The Finance Ministry said in a notification, “The interest rates on various small savings schemes for the second quarter of the financial year 2024-25 (from July 1 to September 30, 2024) will remain the same as the rates notified for the first quarter (from March 1 to June 30, 2024).

According to the notification, the interest rate on deposits under Sukanya Samriddhi Yojana will be 8.2 percent, while the rate on three-year fixed deposits will be 7.1 percent. The interest rates of PPF and Post Office Savings Deposit Scheme will also remain at 7.1 percent and 4 percent respectively.

How much interest is there on Kisan Vikas Patra, NSC

The interest rate on Kisan Vikas Patra will be 7.5 percent and this investment will mature in 115 months. The interest rate on National Savings Certificate (NSC) for the period July-September 2024 will be 7.7 percent. In the September quarter also, the Post Office Monthly Income Scheme will give 7.4 percent interest to the investors as before. The government notifies the interest rates for small savings schemes run by post offices and banks every quarter.

Public Provident Fund (PPF)

In this scheme, a minimum investment of Rs 500 has to be made every financial year. Investment made in this scheme is also eligible for tax exemption. A maximum of Rs 1.5 lakh can be invested in this scheme in a year.

Senior Citizen Savings Scheme (SCSS)

A minimum investment of Rs 1000 and a maximum of Rs 30 lakh can be made in this scheme. If the total income from its interest exceeds ₹ 50,000/financial year, then tax has to be paid on it.

Post Office Monthly Income Scheme

This account can be started with a minimum investment of Rs 1000. A maximum of Rs 9 lakh can be invested in it in an individual account and a maximum of Rs 15 lakh in a joint account.

National Savings Certificate (NSC)

The minimum investment in this account is Rs 1000. There is no limit for maximum investment. Its maturity period is 5 years.

The post Small saving Interest: No change in interest rates on small savings schemes for the FY-24 first appeared on Rightsofemployees.com.

The post Retirement Fund: How to prepare retirement fund, stay assured for the future? first appeared on Rightsofemployees.com.

PPF: In terms of investment, there is no dearth of options these days. To strengthen their portfolio, investors like to invest in various types of schemes. If you want to invest in a scheme with guaranteed returns and want to invest good money, then you can choose the option of Public Provident Fund (PPF). PPF is a government guaranteed scheme. In this one has to invest for a long time.

The scheme matures in 15 years. If you want to take advantage of this even further, you can extend your account for 5 years. Rs 500 to Rs 1.5 lakh can be deposited annually in PPF. At present 7.1 percent interest is being given on it. In this scheme of EEE category, interest can also be saved in three ways. To invest in this, you can open an account in any post office or government bank. If you invest just Rs 1,000 per month in this scheme, you can add more than Rs 8 lakh in a few years. Know how-

Know how more than 8 lakh will join

If you invest Rs 1,000 every month in this scheme, you will invest Rs 12,000 in a year. The scheme will mature after 15 years, but you have to extend it twice in blocks of 5 years each and continue the investment continuously for 25 years. If you invest Rs 1,000 every month for 25 years, you will invest a total of Rs 3,00,000. But according to 7.1 percent interest, you will take Rs 5,24,641 only from interest and your maturity amount will become Rs 8,24,641.

Tax will be saved in three ways
PPF is an EEE category scheme, so you will get 3 types of tax exemption in this scheme. EEE means Exempt Exempt Exempt. In the schemes falling in this category, there is no tax on the amount deposited annually, apart from this, the interest earned every year is not taxed and the entire amount received at the time of maturity is also tax free i.e. investment, interest/return and Tax is saved in all three maturities.

Also know the rule of extension
PPF account extension is done in blocks of 5 years. In case of PPF extension, the investor has two types of options – first, account extension with contribution and second, account extension without investment. You have to get extension with contribution. For this, you will have to submit an application to the bank or post office where you have an account. Keep in mind that you will have to give this application before completion of 1 year from the date of maturity and a form will have to be filled for extension. The form will be submitted in the same post office/bank branch where the PPF account has been opened. If you are not able to submit this form on time, you will not be able to contribute to your account.

National Pension System: Apart from NPS, there are many government pension schemes for old age, which one has how much benefit?

The post Post Office Special Scheme! Invest just ₹1,000 per month and add ₹8,24,641, save tax too first appeared on Rightsofemployees.com.

In this series, today we are going to tell you about a very wonderful scheme of the government. The name of this scheme is Public Provident Fund. This government scheme is quite popular in the country. At present, by investing in Public Provident Fund Scheme, you are getting an interest rate of 7.1 percent. If you want to collect a fund of Rs 13 lakh by investing Rs 4,000 in the PPF scheme. In such a situation, let us understand this mathematics of investment in detail –

For this, first of all you have to open an account in Public Provident Fund. After opening an account in Public Provident Fund Scheme, you will have to save Rs 4 thousand every month and invest Rs 48 thousand in it annually. Money invested in Public Provident Fund matures in 15 years. In such a situation, if you invest Rs 48 thousand annually in the Public Provident Fund Scheme for 15 years.

In such a situation, if you calculate on the basis of current interest rate of 7.1 percent, then at the time of maturity after 15 years, you will have around Rs 13,01,827. You will have to invest a total of Rs 7,20,000 during the investment period. You will get interest of around Rs 5,81,827 on your investment. By investing in Public Provident Fund Scheme, you do not have to face any kind of market risks. This scheme is completely safe.

The post PPF Scheme: By depositing just Rs 4,000 every month, you will get Rs 13 lakh in a few years first appeared on Rightsofemployees.com.

Due to closure of the account, other benefits available through PPF are also not available, hence it is necessary that the prescribed amount be deposited in the PPF account every year. If due to some reason the PPF account has been deactivated then there is no need to worry. Closed PPF account can be activated easily.

This is the process of opening an account

To reopen the PPF account, the account holder will have to go to the bank or post office where the PPF account has been opened. To reactivate the account, a form will have to be filled. Along with this, you will have to pay the arrear amount for the years in which you have not deposited the money and will also have to pay a penalty of Rs 50 per year.

Calculate like this

Suppose your PPF account has been closed for 4 years. So you will have to pay arrears of Rs 2000 for four years. Along with this, you will have to pay a penalty of Rs 200 at the rate of Rs 50 per year.

Disadvantages of account closure

In 2016, the government has allowed closure of PPF account before maturity in certain circumstances. These situations include expenses for the treatment of a life-threatening illness or the education of a child. But, this can be done only after investing in PPF account for five years. Loan can also be taken from PPF account. All these benefits are not available in inactive PPF account. Therefore, PPF account should not be allowed to be closed.

Tax exemption is available on PPF account

Tax exemption is available on investment in PPF under section 80C. At the same time, tax is not to be paid on interest income and also on the amount received on maturity.

The post Can I get my closed PPF account reactivated? Know rules first appeared on Rightsofemployees.com.

There are a total of 7 changes that investors of the scheme should be aware of. Recently, some changes have been made in the Senior Citizens Savings Scheme, a savings scheme known for retirement. The government had issued a notification on November 7, 2023. Under this, the rules of small savings schemes have been changed.

Along with small savings schemes like Public Provident Fund, National Savings Certificate, the rules of Senior Citizens Savings Scheme have also changed. There are a total of 7 changes that investors of the scheme should be aware of.

1. Period to apply for the scheme

When you get the retirement benefits, you can apply for this scheme within three months of receiving the receipt, earlier you used to get only 1 month’s time.

2. On investment of spouse of government employee

Now in this scheme, the rules have also been simplified on the investment of spouses of such employees who have died while on duty. Under the new rules, now the spouse of the deceased government employee can invest the amount of financial assistance in this scheme, this will be approved in case the employee dies while on the job after the age of 50 years. This benefit will be available to all those central and state government employees who are eligible to take retirement benefit or death compensation.

3. Meaning of retirement benefits

In this notification, retirement benefit has been defined as any payment received by a retired employee after retirement or superannuation. This could include provident fund outstanding, retirement or superannuation or death gratuity, value of pension, leave encashment, retirement-cum-withdrawal benefit under EPS or ex-gratia payment under VRS.

4. Deduction on premature withdrawal

Under the new rules, if the account is closed before the expiry of one year, one percent of the deposit will be deducted. Earlier, if the account was closed before the expiry of the first year, the interest received on the deposit was recovered, and the remaining money was given to the account holder.

5. Account Extension

Now account holders can extend their account any number of times in a block of three years. Earlier it could be extended only once. You have to apply for each extension. And whenever the application for extension is received, the extension will be considered from the date of maturity or from the end of the block of three years. In both these cases, you can apply for account extension within one year.

6. Interest rate after extension

If the account is extended after maturity of five years, the interest on the deposit will be the maturity date rate or the extended maturity rate. Earlier, if there was extension only once, the maturity rate was applied.

7. Maximum Deposit Amount

You cannot make more deposits than what is allowed in this scheme. Earlier, extension could be done only once, so the conditions on the investment amount after extension were not clear. It is now stated that the amount deposited at the time of opening the account will be paid on or after the maturity of five years or at the end of each block period of three years where the account was extended under paragraph 8 from the date of account opening. Provided that after closure of the existing account or accounts, the depositor may open new accounts by depositing money as per his requirement within the maximum deposit.

The post Senior Citizens: Government has changed 7 rules of this retirement scheme, check details first appeared on Rightsofemployees.com.

But if you are confused about how much money should be invested every month… then don’t worry at all. Today we will tell you how much money you will get after 15 years and 20 years by investing ₹ 1000, ₹ 2000, ₹ 3000, ₹ 5000.

Let us tell you that currently 7.1 percent interest is being given in Public Provident Fund. If you invest for 15 or 20 years with this interest rate, you can create a huge fund. Let’s see the calculation –

Rs 1000 monthly investment

If you invest Rs 1000 every month in the PPF scheme, then after 15 years you will get Rs 3.25 lakh. Apart from this, if you invest for 20 years then you will get Rs 5.32 lakh.

Rs 2000 monthly investment

Apart from this, if you invest Rs 2000 every month in this government scheme, you will get Rs 6.50 lakh after 15 years. Whereas, if you extend it for 5 more years i.e. after 20 years you will get Rs 10.65 lakh.

Rs 3000 monthly investment

If you invest Rs 3000 every month, then after 10 years you will get Rs 9.76 lakh. At the same time, after 20 years you will get Rs 15.97 lakh on this investment.

Rs 5000 monthly investment

If you invest Rs 5000 every month in the PPF scheme, you will get Rs 16.27 lakh after 15 years. Apart from this, after 20 years you will get Rs 26.63 lakh on this investment.

You will get full money back on maturity

Let us tell you that when the maturity of your PPF account is completed, you will get the interest amount along with whatever money you have deposited. In case of account closure, your entire money is transferred to the account. Along with this, let us tell you that the money and interest received on maturity is completely tax free. No tax will be imposed on this by the government.

The post Public Provident Fund: How much fund will you get on investment of ₹1000, ₹2000, ₹3000, ₹5000 first appeared on Rightsofemployees.com.

At the same time, the interest received on this also remains out of the scope of tax under Section 10. Often people think that by investing money in PPF for a long time, they can become a millionaire till retirement. If you are also thinking of investing money in PPF, then you should follow 9 rules related to it.

1- Who can open PPF account?

PPF is a scheme that matures in 15 years, which can be extended further in blocks of 5 years. You can open it in both bank and post office. You can transfer the account from one place to another, both from bank to post office and from post office to bank. A person of any age can open it.

2- PPF deposit, when and how often?

A person can deposit money in PPF account maximum 12 times in a year. If you want, you can deposit money every month or if you want, you can deposit the entire money in one go at the beginning of the year.

3- PPF interest rate

You get guaranteed returns on PPF. This is because its money is not invested in the stock market, hence returns do not increase or decrease depending on the performance of the stock market. The interest rate on PPF is decided by the government and is reviewed every quarter. At present this rate is 7.1 percent.

4- PPF Deposit Limit

You are required to deposit at least Rs 500 in PPF, so that the account remains active. You can deposit a maximum of Rs 1.5 lakh in this account in a year. If you deposit more money than this, you will neither get any interest on it nor will you get tax exemption under 80C. This excess amount is returned to the subscriber without any interest.

5- PPF account in the name of the child

PPF account can be opened in the name of the child by the parents of any child. If a grandparent wants to open a PPF account for his or her grandchild, they cannot open it. Only parents can open an account in the name of the child.

6- How many accounts can be opened

A person can open only one PPF account. It can be opened at any one of the bank or post office. One account cannot be opened at both the places. However, you can definitely transfer your account from one place to another. If two accounts are opened by mistake, the second account will be treated as a regular account.

7- Premature closure of PPF

If you want, you can close the PPF account even before maturity. However, this is also possible only after completion of 5 years. Also, you can get it stopped under certain conditions. The condition for premature closure of PPF and withdrawal of money is that the money should be used for some fatal disease. This can be withdrawn for the treatment of the account holder, his partner, child or parents. Besides, you will also have to take necessary permissions from the medical authority.

8- Separate form for nomination

When you fill the PPF form (Form-A), there is no option to file nomination in it. For this you have to fill a separate form. Keep in mind that you must fill the nomination form (Form-E), so that there is no legal problem regarding the nominee later.

The post PPF: 8 Important Things You Should Know Before Investing in PPF first appeared on Rightsofemployees.com.

There was confusion regarding interest reduction

The rules regarding penalty for closing PPF account before 15 years were clear, but there was confusion regarding extension of the account period. As per the old rules (PPF 2019), if one closes the account during the extended period then the penalty will have to be paid from the time the account period extended.

That is, if an investor has extended the PPF account more than once for 5 years after 15 years, then the penalty will be charged from the time the PPF account was extended for the first time.

Relief given like this: In the new rules, it has been made clear that if the investor has extended the account period three times for five years each, then one percent penalty will not be imposed from the time the account is extended for the first time. Rather, the calculation will be done only for those five years in which the application for premature closure of the account has been given.

What are the existing provisions: The maturity period of PPF account itself is 15 years. This can be extended for another five years. The account cannot be closed for the next five years after the financial year in which the account is opened. Only after this, under special circumstances, the account can be closed before the maturity period but for this a penalty is imposed in the form of reduction in interest.

How much deduction: According to the rules, if the account is closed before the maturity period, there is a deduction of one percent in the interest, which is applicable from the date of opening of the account. If a person was getting 7.1 percent interest on the current contribution, but if he closes the account prematurely, he will get only 6.1 percent interest.

Exemption to close account in these circumstances

For treatment of serious illness of the account holder or family members
When you need money for your or your child’s higher education in the country or abroad
If the account holder is leaving the country then he can close the account.
On the death of the account holder, his Nomina account can be closed
It is necessary to submit these documents

To close the PPF account before the maturity period, a written application has to be submitted to the concerned bank or post office. Form-5 will also have to be filled. In this, a clear reason for closing the account must be given. Also, necessary documents will have to be attached with the application.

If you close the account for the treatment of illness, then you will have to submit the documents given by the medical authority. Copy of PPF passbook will have to be attached. The application is accepted after verification of documents.

The post PPF New Rules: Government made important changes in the rules for closing PPF account before maturity first appeared on Rightsofemployees.com.

It also explains the special adjustments for premature withdrawal of funds from the National Savings Time Deposit Scheme. The government has issued a notification in this regard on November 9. A person can invest the money received on retirement in the Senior Citizens Savings Scheme within three months. During this time, he will have to provide proof of the date on which the retirement money has come into his account.

It has been said in the notification that the interest rate on the money deposited in the scheme will be as per the interest rate on the date of maturity of the Senior Citizens Savings Scheme.

Change in the rules for withdrawing money from PPF

The government has also changed the rules for premature closure of PPF account. In the notification, these changes have been named Public Provident Fund (Amendment) Scheme, 2023. In this, special adjustments have also been made in case of premature withdrawal of money in National Savings Time Deposit Scheme. It says that if money is withdrawn from a five-year account after four years from the date of opening the account, then the interest rate of Post Office Savings Account will be applicable on it.

Total 9 small savings schemes

Currently, the rule is that if a five-year deposit account is closed after four years of opening it, then the interest rate of a three-year time deposit account will be applicable on it. Small Savings Accounts are managed by the Department of Economic Affairs, Ministry of Finance. Currently, 9 types of small savings schemes of the government are available. These include Recurring Deposit (RD), Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), Mahila Samman Saving Certificate, Kisan Vikas Patra, National Savings Certificate (NSC) and Senior Citizen Savings Scheme (SCSS).

The post Small Saving Scheme! Government has changed the rules of many small savings including Public Provident Fund and SCSS , check immediately first appeared on Rightsofemployees.com.

Most of the people in the country look for safe investment options, which provide a fixed return and there is no risk of market risks. If you are also looking for such a scheme. In such a situation, this news is especially for you.

Today we are going to tell you about the Public Provident Fund Scheme. By investing Rs 12,500 in this scheme, you can collect a fund of Rs 40.68 lakh at the time of maturity. Public Provident Fund is one of the popular savings schemes of the country. The PPF investment scheme is offered by the central government. In such a situation, the returns received from here are completely safe.

You can invest in PPF for 15 years. A minimum of Rs 500 and a maximum of Rs 1.5 lakh can be invested in this scheme. At present, an interest rate of 7.1 percent is being given on investing in this scheme. Based on the current interest rate of 7.1 percent, if you save Rs 12,500 every month and invest Rs 1,50,000 every year in the Public Provident Fund.

In such a situation, at the time of maturity after 15 years, you will be able to collect a total of Rs 40,68,209. You will have to invest a total of Rs 22,50,000 during the investment period. You will get a total interest of Rs 18,18,209 on your investment.

In such a situation, after 15 years you will have a total of Rs 40,68,209. With the help of this money, you can fulfill your daughter’s marriage or other future related purposes.

The post PPF Scheme: By depositing Rs 12,500 every month, you will get Rs 40.68 lakh on maturity first appeared on Rightsofemployees.com.

However, any investor has to invest a minimum of Rs 500 in a year in the PPF account and in its absence the PPF account may become inactive. Also know that you cannot invest more than Rs 1.5 lakh in a PPF account in a year. PPF account takes 15 years to mature.

How can PPF account make you a millionaire?

If you go for the traditional investment option, it will take you a lot of time to build a corpus of crores of rupees, but personal finance experts say that with the power of compounding in PPP investment, this task can be done easily. Anyone can extend the PPF account for 5 years and this can be done any number of times. Whenever you extend your PPF account, you should extend it with investment option so that you will get double benefit on it. Like, interest will be given on both PPF maturity amount and fresh investment. Through this, you will get maximum benefit on your investment which can increase your returns manifold.

In simple words, anyone can start investing in PPF account from time to time and get Rs 1 crore or more by the time of their retirement.

PPF calculator

If an investor extends the PPF account twice for 5 years each after the maturity of 15 years, then he is able to earn a good amount of money and become a millionaire in 25 years. Let us know how this can happen – If a PPF investor deposits Rs 1.5 lakh in his PPF account in a year – it can also be deposited in the form of monthly installments such as Rs 8333.3 every month. Now according to this, the maturity amount of your PPF investment of 25 years will be – 1,03,08,015 or Rs 1.03 crore. Here it is important to keep in mind that the total investment you made was Rs 37,50,000 and according to the 7.10 percent annual interest rate (current interest rate), you got a total interest of Rs 65,58,015.

PPF taxation rules

The rules of PPF taxation give you the EEE tax benefit in which not only you get tax exemption on the annual amount of Rs 1.5 lakh invested in PPF, apart from the annual investment, the maturity amount of PPF is also tax free. In this way you get triple EEE tax benefit which is known as exemption-exempt-exempt.
Is called benefit.

The post PPF Calculator: You can easily become a millionaire through Public Provident Fund, just do these simple things first appeared on Rightsofemployees.com.

In fact, if a certain rule is not followed, the PPF account can be closed, contributions can be returned and interest payments can be stopped. In such a situation, here we are going to tell you about those four reasons through which PPF account can be closed.

Opening more than one PPF account

As per PPF rules, you are allowed to open only one account in one name. Also, if you have a PPF account with a bank, you cannot open an account with a post office. Also, if the PPF account is opened in the post office, then the PPF account cannot be opened in the bank. While opening a PPF account on behalf of your minor child, it should be opened by either the father or the mother; Both the parents cannot open separate accounts for the same minor.

Contribution of Rs 1.5 lakh in a year:

Anyone who contributes more than Rs 1.5 lakh in a financial year should contribute a minimum amount of Rs 500 to his PPF account. The maximum amount allowed in a financial year is Rs 1.5 lakh. Rs 1.50 lakh will include the amount deposited in his own account and in the account opened on behalf of the minor.

Contributions of more than Rs 1.5 lakh made during the financial year will be treated as irregular membership. The excess amount will neither earn interest nor be eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Apart from this, the contribution amount of more than Rs 1.5 lakh will be returned to the account holder without any interest through post office.

Joint PPF Account

You cannot open a joint PPF account. If it is opened in joint name, the post office/bank can close these irregular accounts.

Extension of Account with Contribution

The PPF account can be extended indefinitely after the expiry of 15 years. But if someone continues to invest during the extension without informing the post office, it may be irregular. If you want to extend the account and also want to continue with the new deposit, you have to inform the post office in writing one year before the expiry by filling Form H.

If anyone continues to make deposits without submitting this form, all new deposits will be canceled and the account will be treated as irregular. Also, no interest will be given on it. The benefit of section 80C will not be available on deposits made in PPF account without exercising the option to continue the account after the expiry of 15 years.

The post PF Account: These 4 mistakes of those who invest money in PPF will prove costly, account may be closed first appeared on Rightsofemployees.com.

This post office scheme helps a lot in creating a huge fund over a long period. The special thing about this scheme is that the investment in it is completely safe. The money invested in PPF is not invested in the stock market, due to which it is completely safe. The PPF scheme is getting 7.1 percent interest annually.

You can open a Public Provident Fund (PPF) account at any post office or bank branch. This account can be opened for just Rs.500. You can deposit up to Rs 1.50 lakh annually in PPF. The maturity period of this account is 15 years. But after maturity, you can extend it for 5-5 years.

If you deposit Rs 12,500 every month in PPF account and maintain it for 15 years. So you will get a total of Rs 40.68 lakh on maturity. Your total investment in this will be Rs 22.50 lakh, while the interest income will be Rs 18.18 lakh. These calculations yielded an interest rate of 7.1 percent per annum for 15 years. If the interest rate changes, the money at maturity can change.

If you want to become a millionaire from this scheme then you have to extend twice for 5 years after 15 years. That means now your investment period will be 25 years. In this way after 25 years your total money will be Rs 1.03 crore. If your total investment during this period is Rs 37.50 lakh, then you will get Rs 65.58 lakh as interest income.

If you want to become a millionaire from this scheme, then after 15 years you have to extend PPF twice for 5 years. That means now your investment period will be 25 years. In this way after 25 years your total money will be Rs 1.03 crore. If your total investment during this period is Rs 37.50 lakh, then you will get Rs 65.58 lakh as interest income. If you want to increase PPF account then you have to apply one year before maturity.

The biggest advantage of PPF scheme is that it gives the benefit of tax exemption under section 80C of income tax. In this, tax exemption of up to Rs 1.5 lakh can be found on investment in the scheme. Interest on PPF and money received on maturity are tax free.

The post Post Office Scheme: This post office scheme will make you a millionaire, this scheme is a superhit first appeared on Rightsofemployees.com.

PNB tweeted

Punjab National Bank has written in its official tweet that now you will have savings as well as tax savings. Apart from this, the bank has said that from now on you do not need to go to the branch to deposit money in PPF, you can transfer funds online from home.

Savings bhi, tax mein bachat bhi in PPF account with PNB!

For more info,visit: https://t.co/uDOH5lNR87#Savings #PPF #Funds #Tax #DigitalBanking pic.twitter.com/VRtnQAEuGA

— Punjab National Bank (@pnbindia) August 5, 2023

Invest from Rs 500

You can start investing in Public Provident Fund Scheme with a minimum of Rs 500. You can open it from your nearest post office or bank anywhere. From January 1, 2023, the government is giving the benefit of interest at the rate of 7.1 percent in this scheme and the maturity of the PPF scheme is in 15 years.

You can increase

your investment for 5-5 years. In this scheme, account holders can apply to increase it in a block of 5-5 years. In this, he also gets the option of continuing the contribution or not.

You get the benefit of tax exemption

In PPF scheme, you also get the benefit of tax exemption. In this scheme, you can take advantage of tax exemption under section 80C. The amount earned through interest in this scheme is also tax free. After completion of 5 years in this scheme, you can also apply for a loan.

Visit the official link

For more information about the PPF scheme, you can visit the official link https://www.pnbindia.in/public-provident-fund.html . Here you will get all the information about PPF scheme.

The post PPF Scheme New Update! PNB has brought a special facility for the customers, Know all the details first appeared on Rightsofemployees.com.

Investing in PPF i.e. Public Provident Fund is a good investment option, but if you invest money wisely in it, then only you will get maximum benefit. For your information, let us tell you that if you are putting money in PPF every month, then deposit it at the beginning of the month by the 5th, so that you will get the interest for that month as per the PPF rules.

Why depositing money till 5th is beneficial

The simple answer is that interest is currently being paid on PPF at the rate of 7.1 per cent and it is decided on the minimum balance between the last date of the previous month and the fifth date of the new month. Interest is paid on the amount deposited in PPF accounts every month but the interest in the account is credited at the end of the financial year which is March 31 of every year. This interest is payable for that account only if the new amount is deposited in the account before the 5th of the month.

So investors can get the benefit of interest on interest only when the amount is deposited in the account by 5th date. If someone deposits money in the PPF account after the fifth of the month, then he will not be able to get the interest of the previous month and the interest of that month.

Understand it with example

Suppose there is Rs 1 lakh in a PPF account on 5 April 2022 and the investor of this account makes an additional investment of Rs 1.5 lakh on 6 April 2022. So according to the rules of PPF, investors will get interest only on the minimum balance from April 5, 2022 to April 30, 2022, which was Rs 1 lakh. This means that the investor will lose the interest of the investment of Rs 1.5 lakh for April 2022. This means that if the investor had deposited Rs 1.5 lakh in the PPF account by April 5, he would have got April interest on the entire investment of Rs 2.5 lakh.

Therefore, investors should invest with complete planning while putting money in PPF so that they can get maximum returns. They should take it as a rule to invest in PPF by the 5th day.

The post PPF Interest Rate Benefits: Invest in PPF till this date, you will get the benefit of getting more interest first appeared on Rightsofemployees.com.

If you have also invested in Public Provident Fund, then 5th of every month is very important for you. If you invest money keeping in mind the 5th of every month, then you will get more benefit. This information has been given by the Central Government.

Deposit money on 15th

If you have also invested in Public Provident Fund, then 5th of every month is very important for you. If you invest money keeping in mind the 5th of every month, then you will get more benefit. If you invest in this scheme then you must know that you have to deposit money on 15th of the month. If you don’t do this So the interest for that month is not given to you.

Why is 5th date special?

In PPF you can deposit Rs 1.5 lakh in a year and if you deposit this amount in PPF account on 20th April then during this year you will get interest only for 11 months, but if you deposit this amount on 5th April If you do, you will get a profit of Rs 10,650.

How much interest in PPF?

Interest is available at the rate of 7.1 percent in PPF. Whatever minimum balance remains between the 5th of the month and the last date of the month, interest is added on it in the same month. Any money deposited after the 5th of the month will earn interest from the next month.

Account can be opened only once

Let us tell you that a person can open an account only once in Public Provident Fund ie PPF. At the same time, more than one PPF account opened after December 12, 2019 will be closed and no interest will be paid. Apart from this, there is also a ban on merging multiple PPF accounts.

The post PPF Scheme: Big news for investor! Invest before this date, otherwise you will get interest only for 11 months first appeared on Rightsofemployees.com.

Investment is made for 15 years

This scheme is for 15 years and gives the benefit of compound interest. At present, the interest rate on PPF is 7.1 per cent. If you also want to invest in this scheme, then let us know how much return you will get by investing 2000, 3000, 4000 and 5000 rupees every month?

You will get this much return after investing Rs 2,000

As per the PPF calculator, if you invest Rs 2000 per month in PPF, you will invest Rs 24,000 in a year. In this way, in 15 years you will invest a total of Rs 3,60,000. Accordingly, but at 7.1% compound interest, you will get an interest of Rs 2,90,913. That is, you will get a total of Rs 6,50,913 on maturity.

If you invest 3000 thousand rupees

If you deposit Rs 3000 every month in PPF, you will invest a total of Rs 36000 in a year. Rs 5,40,000 will be deposited in 15 years and Rs 4,36,370 will be received as interest on it. When your scheme matures after 15 years, you will get Rs 9,76,370.

If you invest Rs 4000

Whereas, if you invest Rs 4000 every month in PPF, then your annual investment will be Rs 48000. Your total investment in 15 years will be Rs 7,20,000. You will get Rs 5,81,827 as interest on your investment at 7.1 per cent interest rate. Whereas on your maturity you will get Rs 13,01,827.

If an investment of Rs 5000?

If you deposit Rs 5000 every month in PPF then your total investment in one year will be Rs 60,000 and in 15 years your total investment will be Rs 9 lakh. Talking about the interest received on this, according to the current interest rate, Rs 7,27,284 will be received as interest. You will get Rs 16,27,284 on this plan maturity.

The post How much return will you get by investing Rs 2000, 3000, 4,000 or 5,000 in PPF every month, know the complete calculation first appeared on Rightsofemployees.com.

Investors investing in Public Provident Fund ie PPF can get a big deal. There is a possibility that the interest rates of PPF can be increased for the second quarter of the financial year 2023-24 from July to September. The Finance Ministry is about to review the interest rates of small savings schemes. Which can be announced today.

There has been no increase in the interest rates of PPF since April 2020 till now. PPF is currently getting 7.1 percent interest annually. However, during this period, the central government has increased the interest rates of almost all small savings schemes for the last three quarters, including Sukanya Samriddhi Yojana.

For April to June, the interest rate of these savings schemes was increased by 10 to 70 basis points. In which the interest rate of NSC i.e. National Saving Certificate was increased from 7 percent to 7.70 percent. The interest rate of Sukanya Samriddhi Yojana was increased from 7.6 per cent to 8 per cent. At present, 7.5 percent interest is being received annually on Kisan Vikas Patra and its maturity period was reduced from 120 months to 115 months.

The interest rates of these savings schemes have been increased but the government has not increased the interest rates of PPF. While RBI has increased the repo rate by 2.50 in a year. After which the banks have increased the interest rates on FDs, then the government has increased its small savings schemes. In such a situation, the investors of PPF are also expecting the interest rates to be increased.

There is a formula for fixing the interest rates of PPF which was notified by the Finance Ministry in 2016. Under this, 25 basis points more interest is given on PPF than the 10-year bond yield. Currently the bond yield is 7.3 per cent. Based on this formula, the interest rates of PPF should be increased to 7.55 per cent.

Urban and rural common Indians invest in savings schemes like PPF as safe. These are the people who rely on investing in these schemes while staying away from the ups and downs of the stock market and also invest to save tax. To maintain the popularity of PPF, there is pressure on the government to increase the interest rates.

The post PPF Rate Hike: Great news PPF investors! Government may increase the interest rates, Details Here first appeared on Rightsofemployees.com.

Good return on investment and tax saving option is available in the scheme. If you are doing retirement planning or want to earn good income from investment in long term, then you can choose this scheme. The scheme is more popular by the name of PPF.

Why is PPF considered the best option?

Public Provident Fund (PPF) is most popular because the money deposited in it, the interest received and the amount received on maturity (PPF Maturity) are completely tax free. Meaning it is kept in the EEE category. EEE stands for Exempt. There is an option to claim tax exemption on deposits every year. No tax has to be paid on the interest received every year. Once the account matures, the entire amount will be tax free.

Who can invest in PPF?

Small Savings Scheme (Small Savings Scheme) Any citizen of the country can invest in PPF. It can be opened in post office or any bank. A minimum investment of Rs 500 and a maximum of Rs 1,50,000 can be made every financial year. Interest is calculated on an annual basis. However, the interest is fixed on a quarterly basis.

At present, 7.1% interest is being received on PPF. The maturity period lasts for 15 years. There is no facility to open joint account in the scheme. However, a nominee can be made. There is no option to open PPF account even in the name of HUF. In the case of children, the name of the guardian is included in the PPF account. But, it remains valid only till the age of 18.

How can PPF really make a millionaire?

PPF is such a scheme, in which it is easy to become a millionaire. This requires regular investment. Suppose you are 25 years old and you have started PPF. If you deposit Rs 1,50,000 (maximum limit) in the account between 1st to 5th at the beginning of the financial year, then at the beginning of the next financial year only Rs 10,650 will be deposited with interest.

That means on the first day of the next financial year your balance will be Rs 1,60,650. By doing the same again next year, the account balance will be Rs.3,10,650. Because, 1,50,000 rupees will be deposited again and then interest will be received on the entire amount. This time the amount of interest will be Rs 22,056. Because, the formula of compound interest works here. Now suppose 15 years of PPF maturity have been completed, then you will have Rs 40,68,209 in your account. In this, the total deposit amount will be Rs 22,50,000 and Rs 18,18,209 will be earned only from interest.

If you want to become a Crorepati then invest even after maturity

PPF was started at the age of 25. At the maturity of 15 years, at the age of 40, an amount of more than Rs 40 lakh is in hand. But if the planning is for a long period, then the money will grow faster. After maturity in PPF, the account can be extended for 5-5 years extension. If the investor extends the PPF account for 5 years, then by the age of 45, the total amount will be Rs 66,58,288. The investment in this will be Rs 30,00,000 and the interest earned will be Rs 36,58,288.

At what age to become Crorepati?

The goal of becoming a millionaire will now be fulfilled. PPF account has to be extended once again i.e. for another 5 years till 25 years. Again an investment of Rs 1,50,000 will have to be made annually. At the age of 50, a total of Rs 1,03,08,014 will be deposited in the PPF account. The investment in this will reach Rs 37,50,000 and the interest will reach Rs 65,58,015.

Earning of interest will cross 1 crore

Understand the second feature of PPF that how many times you can do the extension of 5 years. Now once again if the account is extended for 5 years then at the age of 55 you will have 1 crore 54 lakh 50 thousand 910 rupees. The investment in this will be only Rs 45,00,000, but the interest income will exceed Rs 1 crore and the total income will be Rs 1,09,50,911.

Will invest 2 crore 26 lakh 97 thousand 857 rupees for 35 years

If you have invested in it for retirement, then PPF will have to be extended once again for the last 5 years. That means investment will continue for 35 years in total. In this case, maturity will be at the age of 60. In this case, the total deposit amount in the PPF account will be Rs 2 crore 26 lakh 97 thousand 857. The total investment in this will be Rs 52,50,000, while the income from interest will be Rs 1 crore 74 lakh 47 thousand 857.

If you want to double your money then invest like this

When you retire at the age of 60, there will be no tax on the huge amount deposited in PPF above 2 crores. Generally, if you earn such a huge amount from somewhere else, then you will have to pay heavy tax on it. If both husband and wife run PPF account together for 35 years, then the total balance of both will be Rs 4 crore 53 lakh 95 thousand 714.

The post PPF Super Investment Plan: You will get Rs 1,74,47,857 only from interest and Rs 2,26,97,857 on maturity first appeared on Rightsofemployees.com.

Many schemes are being run by the government for the benefit of the people. People get the benefit of these schemes on different occasions. At the same time, many schemes are being run by the government for investment. Through these schemes, people get a chance to make safe investments and also earn interest. And today we are going to tell you about one such scheme.

PPF scheme

Actually, the Public Provident Fund (PPF) scheme is being run by the government. This scheme comes under the Central Government. On the other hand, if someone is looking for a safe investment for the long term, then investment can be made in this scheme. Along with this, people also get tax benefit on PPF scheme.

Investment Amount

Under the PPF scheme, people can invest up to Rs 1.5 lakh every year. Along with this, this scheme runs for 15 years. This scheme matures only after 15 years and people get maturity amount along with interest on the amount invested. At the same time, under this scheme, people have to invest a minimum of Rs 500 every year.

Interest

People get interest in PPF scheme. On the other hand, one special thing about the PPF scheme is that the interest rate given on this scheme is reviewed every 3 months. On the other hand, if the central government feels it, then the interest rate can also be changed. At present, 7.1 percent interest is being given to the people by the government on this scheme.

The post The government is giving a great scheme, will get more than 7 percent interest 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.

If you are looking for a scheme for investment, in which there is no risk and the profit is also better, then Public Provident Fund (PPF) can be a better option. Any Indian citizen can invest in this scheme. A maximum of Rs 1.5 lakh can be deposited annually in PPF and a minimum of Rs 500.

This scheme is for 15 years and gets the benefit of compounding. At present, interest is being received on PPF at the rate of 7.1 per cent. If you also want to invest in this scheme, then know here how much return you will get on monthly investment of Rs 2000, 3000, 4000 and 5000?

Profit on investment of Rs 2000

According to PPF Calculator, if you invest Rs 2000 per month in PPF, then you will have an investment of Rs 24,000 in a year. In this way, in 15 years you will invest a total of Rs 3,60,000. But according to the compounding interest of 7.1 percent, Rs 2,90,913 will be received. In this way, a total of Rs 6,50,913 will be received at the time of maturity.

On investment of Rs.3000

If you deposit 3000 rupees monthly in PPF, then you will invest a total of 36000 rupees in a year. Rs 5,40,000 will be deposited in 15 years and Rs 4,36,370 will be received as interest. In this way, when your scheme matures after 15 years, then you will get Rs 9,76,370.

4000 on investment of Rs.

On the other hand, if you invest Rs 4000 in PPF every month, then your annual investment will be Rs 48,000. In this way, in 15 years you will invest a total of Rs 7,20,000. If you calculate the interest according to 7.1 percent, then you will get Rs 5,81,827 as interest on the investment made. At the same time, the maturity amount will be Rs 13,01,827.

On investment of Rs 5000

If you deposit 5000 rupees every month in PPF, then a total of 60,000 rupees will be deposited in a year and in 15 years your investment of 9 lakhs will be done in this scheme. Talking about interest on this, according to the current interest rate, Rs 7,27,284 will be received as interest. In this way you will get Rs 16,27,284 on maturity through this scheme.

The post PPF Calculator: How much will be the return on monthly investment of 2000, 3000, 4000 and 5000 rupees in PPF scheme? first appeared on Rightsofemployees.com.

Investing in PPF earns interest at the rate of 7.1 percent. Explain that this interest rate available on PPF is likely to cross 8 percent in the July-September quarter. In such a situation, investing in PPF is very beneficial, but before that it is very important to know about the rules related to it.

Who can open PPF account?

Public Provident Fund, the most popular investment scheme of small savings schemes, can be opened by any Indian resident in his own name. At the same time, one of the parents can open a PPF account for a minor son or daughter. In case of death of both parents, grandparents can open PPF account as guardians of grandchildren.

How much can a person open PPF account?

According to PPF rules, a person can open only one PPF account. No person is allowed to open more than one PPF account. However, in some cases it has been seen that investors open PPF accounts in the name of wife and minor child to avail the benefits of PPF.

Know what is PPF account rule

It is worth noting that if the PPF account holder does not deposit a minimum of Rs 500 in his account at the end of the financial year, then there is a provision to impose a fine of Rs 50 per year as a default. At the same time, the investment period of PPF account is fixed at 15 years. Investors can withdraw once every year from the 7th financial year, but this amount cannot exceed 50 percent. Also, the minimum deposit amount for PPF investment is Rs 500 per year and the maximum limit is Rs 1,50,000 per year.

The post PPF Account Limit: Big news for account holders! Government has fixed the limit for opening PPF account, check details first appeared on Rightsofemployees.com.

The government has not made any change in the interest rates of this small savings scheme for a long time. By the end of June 2023, the government can change the interest rates of this scheme. It is worth noting that the government reviews the interest rates of this savings scheme every three months. In such a situation, a change is possible by the end of this month.

No changes made since April 2020

It is noteworthy that the last change in the interest rates of the Public Provident Fund Scheme was made by the Central Government in the year 2020. On 1 April 2022, the government had reduced the interest rates from 7.9 percent to 7.1 percent. Since then no change has been made in this scheme.

It is worth noting that in March 2023, the Central Government had increased the rate of interest of many small savings schemes, but the rates of PPF have remained the same at 7.1 percent. But this time the PPF account holders are hopeful that by the end of June 2023, the government may consider increasing the interest rates.

Why there is no change in the interest rates of PPF for a long time-

According to the report published in the Financial Express, behind not increasing the interest rates of PPF, government employees have said that the reason behind not increasing the rates of this scheme is that after the tax return, the total amount invested under this scheme is 10.32%. Percent interest rate and benefits are available. In such a situation, this scheme is already getting more returns than other schemes. For this reason, the government has not increased its rates for a long time.

You get the benefit of tax exemption on investing in PPF

Public Provident Fund Scheme is an excellent tax saving scheme in which you get a deduction of Rs 1.5 lakh under Section 80C of Income Tax. Along with this, no tax will have to be paid on the interest received on the amount deposited under this scheme.

You will not have to pay any tax on the maturity amount of PPF. It is worth noting that under this scheme, up to 9.5 percent interest rate is available at a time. The lock in period of this scheme is 15 years. If you do not want to invest in EPF and NPS schemes, then you can get strong returns on your retirement by investing in PPF.

The government increased the interest rate on these government schemes

In the last quarter of the financial year 2022-23, the Senior Citizens Savings Scheme, Sukanya Samriddhi Yojana, Kisan Vikas Patra, Post Office FD Scheme (Post Office Fixed Deposits) ), Monthly Income Scheme and Post Office RD Scheme (Post Office Recurring Deposit) interest rates were increased.

The post PPF Interest Rate Increase: Good news for PPF account holders! The government may decide to increase the interest rate, know details first appeared on Rightsofemployees.com.

This is such a scheme of the government, in which the investors get a fund of lakhs of rupees at once. Today we will tell you how you will get full 42 lakh rupees in PPF scheme. Yes… Along with government guarantee, money security is also available in this. Public Provident Fund is a best option.

PPF is the best option for investment

PPF Scheme is the best option to invest money according to long term. You can invest up to Rs 1.5 lakh in it every year. In this you get the facility of compounding interest. Along with this, the ups and downs of the market do not have any effect on such government schemes.

How to get 42 lakh rupees

if you invest 5000 rupees every month in PPF scheme. So your investment for the whole year will be Rs.60,000. If you invest it for 15 years, then your money on maturity will be 16,27,284. If you extend the deposit for the next 10 years in a term of 5-5 years, then after 25 years your fund will be around 42 lakhs (Rs 41,57,566). In this your contribution will be Rs 15,12,500 and interest income will be Rs 26,45,066.

Where can you open an account?

You can start investing in the Public Provident Fund scheme with a minimum of Rs 500. You can open it from your nearest post office or bank anywhere. From January 1, 2023 onwards, the government is giving the benefit of interest at the rate of 7.1 per cent in this scheme and the maturity of the PPF scheme is in 15 years.

There is also a chance to increase it in the block.

In this scheme, account holders can apply to increase it in blocks of 5-5 years. In this, he also gets the option of continuing the contribution or not.

You can also apply for loan, you also get the benefit of tax exemption in PPF scheme. In this scheme, you can take advantage of tax exemption under section 80C. The amount earned through interest in this scheme is also tax free. After completion of 5 years in this scheme, you can also apply for a loan.

The post Public Provident Fund: By depositing Rs 5000 every month, you will get Rs 26,45,066 only from interest, know how? first appeared on Rightsofemployees.com.

Also, you can get good interest on that investment. Lakhs of people in the country are also currently investing in the PPF scheme. However, while investing in PPF scheme, it is important to keep one important thing in mind. Let’s know about it…

PPF scheme investment

Actually, if you have to invest in PPF scheme, then you should know that interest is also provided on a fixed basis in PPF scheme. The PPF scheme is supported through the government. In such a situation, the interest rate of the PPF scheme is also reviewed by the government every three months and if needed, the interest rate of the PPF scheme can also be changed.

If you want to invest in the PPF scheme, then currently in April-June 2023, 7.1 percent interest is being provided to the people in the PPF scheme on an annual basis. On the other hand, the PPF scheme is a long term investment scheme and it runs for 15 years from its inception. In this case, the return of the scheme is available after 15 years.

The maturity of the PPF scheme is after 15 years. In such a situation, PPF scheme can prove to be a better option in terms of investing for a long time. At the same time, a maximum investment of Rs 1.5 lakh can be made in this scheme in a financial year. Along with this, the benefit of tax saving is also available on this scheme.

The post PPF Interest Rate Revised: PPF account is getting so much interest, but it is very important to know about the interest first appeared on Rightsofemployees.com.

There are many schemes for the employees to invest in. Here we are telling you which provident fund schemes are there and which one is best for you to create a big corpus for retirement.

Now there are 3 plans to make provident fund

There are 3 provident fund schemes in the schemes run by the government. The first is Voluntary Provident Fund (VPF), Employees’ Provident Fund (EPF) and Public Provident Fund (PPF). It is very famous among those people who want to create a big fund for their retirement. Know which scheme can be more beneficial for you.

EPF

It is an essential retirement savings scheme. Both the employer and the employee contribute to EPF. The contribution of the worker and the employer is decided according to the salary structure. Whereas, some money can be extracted from it. Partial withdrawal is allowed, the full amount will be released only when the individual reaches the age of retirement. The scheme offers tax benefits. EPF is suitable for salaried individuals who need a retirement-focused savings option.

PPF

It also helps the salaried person to reduce taxes along with creating a bigger corpus after retirement. PPF has a minimum lock-in period of 15 years. However, a certain amount can be withdrawn after some time. Anyone can invest money in PPF. This is a long term investment plan.

VPF

The amount of investment in VPF is fixed, but if the employees want, they can invest more money as per their wish. This means that you can also invest your rental income or money from mutual funds. You can invest more money in this. There is an option to withdraw money after five years. No tax is deducted on this.

The post EPF vs PPF vs VPF: Which of these 3 schemes will be best for your retirement, know here first appeared on Rightsofemployees.com.

By investing in these schemes, a big fund is received in the long run. If a girl child is born in your house too and you want to invest for her future, then Public Provident Fund and Sukanya Samriddhi Yojana both are very popular investment schemes. By investing in it, you can get strong returns.

Who can invest in SSY and PPF?

Significantly, Sukanya Samriddhi Yojana has been specially designed for girls below 10 years of age. By investing in this, the girl child gets a hefty fund after the age of 21 years. At the same time, any person can invest in the Public Provident Fund Scheme. Along with this, PPF account can also be opened for a girl child above 10 years of age.

What is the lock in period in both the schemes

In Sukanya Samriddhi Yojana, SSY can be opened in any bank or post office for a girl child from birth to 10 years. In such a situation, the maximum limit of investment in this scheme is 21 years. On the other hand, if we talk about Public Provident Fund Scheme, then the total investment period in it is 15 years. SSY account can be closed even before marriage after the girl child turns 18. On the other hand, talking about PPF account, the period of investment in it can be extended for 5 years after 15 years.

How much can be invested in both the schemes

You can invest from Rs 250 to Rs 1.5 lakh in a financial year in Sukanya Samriddhi Yojana account. On the other hand, talking about Public Provident Fund, in this scheme you can invest from a minimum amount of Rs 500 to Rs 1.5 lakh in a year. Along with this, tell that under both the schemes you can open an account in any post office or bank.

Know how much interest is being received on both

On investing in Sukanya Samriddhi Yojana, you are getting an interest rate of 8 percent. This interest is transferred to the account on a quarterly basis. At the same time, interest is available on PPF account at the rate of 7.1 percent.

In such a situation, if you want to invest in any one scheme, then Sukanya Samriddhi Yojana can prove to be a better scheme for the girl child. Along with this, if we talk about withdrawal on the account, then the child can partially withdraw the money in the SSY account after the age of 18 years and after 21 years. Partial withdrawal can be done after the seventh year of investment in the same PPF account.

The post SSY vs PPF: Which scheme is more beneficial PPF or SSY? know where you will get more benefits first appeared on Rightsofemployees.com.

In this, along with excellent interest, you get the benefit of tax exemption. There is no risk of sinking money on investing in it and returns are guaranteed. For investing in PPF scheme, any account holder can open an account in the nearest post office and invest a minimum of Rs 1000 and a maximum of Rs 1.5 lakh.

The PPF account matures in 15 years and currently investors are being given interest at the rate of 7.1 per cent (PPF Interest Rates 7.1), but if the investor needs money in between, he can withdraw 40 per cent under the partial withdrawal rule. Can withdraw the amount. The amount invested in this gets the benefit of tax exemption under 80C.

The investment of this scheme has been placed in the EEE category. This means that your investment, interest and maturity amount all three are completely tax free.

If invested in PPF account with the right plan, the investor can become a millionaire. Let us understand the calculation.

• If you invest Rs 9000 every month, then for you it is Rs 300 per day. The PPF calculator shows that a monthly investment of Rs 9000 in a PPF account can grow to Rs 29.2 lakh in 15 years at the current 7.1% interest rate.
• With an investment of Rs 9000 per month in 20 years at 7.1% interest rate, the total maturity amount becomes Rs 47.9 crore and on investment for 25 years, this amount becomes Rs 74.2 crore. Whereas, if you continue investing Rs 9000 every month for 30 years, then the maturity amount can be Rs 1.11 crore.
• Similarly, in a PPF account with a contribution of Rs 9,000 per month, with an interest rate of 7.1%, the maturity amount increases to Rs 1.63 crore in 35 years and Rs 2.36 crore in 40 years. This means that if an investor starts investing in PPF scheme from the age of 20, then at the time of retirement at the age of 60, he will have Rs 2.36 crore in his account.

The post PPF Interest Rates: Invest 300 rupees daily, you will get 2.36 crores on retirement – See PPF calculation first appeared on Rightsofemployees.com.

In this scheme, you get partial withdrawal, nomination benefits and many other facilities. But if an account holder dies before the maturity of the account, then what will happen to his account? Let us know what are the rules of EPFO ​​(Employee’s Provident Fund Organization) in such a situation.

What will happen in case of death of PF account holder? 

Whenever a PF account holder dies, his PF account remains operational until his nominee or legal heir withdraws the entire money from his account. This account cannot be continued. This will continue only as long as there is money in it. If more amount is deposited after the death of the subscriber, interest will not be earned on it. After the death of the account holder, the nominee does not need to wait for the completion of 15 years of the account, he can withdraw the money by filling the death claim form and necessary documents along with it.

How can the nominee withdraw money?

The nominee of the PF account holder can withdraw the entire money from the account by submitting the necessary documents. He has to give Form G and death certificate of the subscriber for this. In some cases, it also happens that the PF subscriber has not made any nominee. In such a situation, his legal heir can file a death claim.

But along with the death certificate, he will also have to provide a succession certificate or an attested copy of the Probate of Will from the court. Yes, there is also a rule that the legal heir can claim up to 1 lakh without a succession certificate. Also, even if the account holder has made someone else a nominee, the valid legal heir can claim the money in the PF account by putting in the succession certificate.

The nominee or the legal heir filing the death claim should know one thing that if there is any credit or loan outstanding on the account of the subscriber, then the claim will be deducted from the process and then the claimant will get the rest of the money.

The post PPF Account Death Claim Rules: If the account holder dies before maturity, how will the nominee get the money? know rules first appeared on Rightsofemployees.com.

Safest investment

The specialty of this scheme is that your investment in it is completely safe. It is not affected by the ups and downs of the market. These interest rates are decided by the government, which are reviewed on a quarterly basis. At present, 7.1 percent interest is being received annually on the PPF scheme in the post office.

Account can be opened in bank branch

You can open a Public Provident Fund (PPF) account at a post office or a bank branch. This account can be opened with just Rs.500. In this, up to Rs 1.50 lakh can be deposited annually. The maturity of this account is 15 years. But after maturity it can be extended further in the bracket of 5-5 years.

Will make crorepati by investing Rs 12,500 every month

If you deposit Rs 12,500 every month in a PPF account and maintain it for 15 years, you will get a total of Rs 40.68 lakh on maturity. Your total investment in this will be Rs 22.50 lakh, while Rs 18.18 lakh will be your interest income. This calculation has been done assuming an interest rate of 7.1 per cent per annum for the next 15 years. The amount received on maturity can change if the interest rate changes. The interest earned in PPF is compounded.

This is how the profit of crores will be

If you want to become a millionaire from this scheme, then you have to extend it twice for 5-5 years after 15 years. That is, now your investment period will be 25 years. In this way after 25 years your total money will be Rs 1.03 crore. Your total investment in this period will be Rs 37.50 lakh, while you will get Rs 65.58 lakh as interest income. Keep in mind that if you want to extend the PPF account, then you have to apply one year before maturity. The account cannot be extended after maturity.

get tax benefit

The biggest advantage of PPF scheme is that it gives tax benefits under section 80C of Income Tax. In this, deduction can be taken on investment up to Rs 1.5 lakh in the scheme. PPF interest and maturity amount are also tax free.

The post Post Office Superhit Scheme: Earn 1 crore by investing Rs 12000 a month, know the method first appeared on Rightsofemployees.com.

People get a chance to invest for a long time through the PPF scheme. Along with this, if people want, they can deposit some amount every month. However, if you also invest money in PPF scheme, one important thing should be kept in mind, otherwise you may have to bear the loss.

maturity and interest

Actually, PPF scheme is a long term savings and investment scheme. If money is invested in this scheme, then its maturity is after 15 years. Only after 15 years, money is available in this scheme along with interest. However, one important thing must be kept in mind in these 15 years. At the same time, in this scheme, people are being given annual interest at the rate of 7.1 percent.

Whenever investment is made in PPF account PPF scheme, it is very important to invest at least Rs 500 in this scheme in a financial year. At the same time, a maximum of Rs 1.5 lakh can be deposited in this scheme in a financial year. In such a situation, if a person is not able to deposit even the minimum amount of Rs 500 in this scheme in a financial year, then the PPF account will become dormant.

Minimum Investment

After this, there will be a need to get that inactive account re-acquitted, in which some rupees will also have to be paid as a fine. Apart from this, in the year when you did not even make a minimum investment of Rs 500, people have to face problems regarding the interest received in that year. In such a situation, people should keep in mind that minimum investment should be made in PPF account every financial year so that the PPF account does not become inactive.

You may also like

The post PPF Scheme: PPF investor Big Alert! This one mistake is going to cause big loss , know immediately first appeared on Rightsofemployees.com.

Now the interest rates of General Provident Fund (GPF) and other provident fund schemes of central employees have also been announced. The Finance Ministry has not made any change in the interest rate of these schemes for the April-June quarter. It has been retained at 7.1 per cent.

The ministry said that the interest rate for GPF (Central Services), Contributory Provident Fund (India), All India Services Provident Fund, State Railway Provident Fund, GPF Defense Services, Indian Ordnance Department Provident Fund has been fixed at 7.1 per cent for the April-June quarter. Has been.

General Provident Fund is a type of provident fund. This is only for government employees. All government employees can contribute some part of their salary in this. The total amount deposited in this is given to the employee at the time of retirement. The Finance Ministry fixes the interest rate on GPF every quarter.

Interest rate on PF

Recently, the Employees’ Provident Fund Organization (EPFO) had fixed the interest rate at 8.15 per cent for the financial year 2022-23. Also, the government had increased the interest rates for many small savings schemes. In these, an increase of 20 to 70 basis points was made.

The interest rate on Sukanya Samriddhi Account Scheme has been increased from 7.6 per cent to 8 per cent. But there was no change in the interest rate on PPF. Normally the interest rate on GPF and PPF is same. Therefore, after there was no increase in the interest rate of PPF, it was believed that there would be no change in the interest rate of GPF.

The post 7th Pay Commission: Big shock to GPF investors, know how much interest they will get in April-June first appeared on Rightsofemployees.com.

At the same time, there are many benefits of PPF, which people are getting. Public Provident Fund (PPF) is a long term savings scheme supported by the Government of India. A PPF account gives you complete security along with attractive interest rates and tax free returns.

PPF account

An investment of Rs 500 can be made in a PPF account in a financial year. At the same time, a maximum investment of Rs 1.5 lakh can be made in this scheme in a financial year. Most experts still recommend investing in a PPF account as an important component of financial planning as it is one of the safest savings plan options. You can also use it as a savings tool for retirement planning.

Liquidity

It gives you the option of partial liquidity even though your PPF account has a lock-in period of 15 years. You can take advantage of this through partial withdrawals and loans. However, the availability of these loans and withdrawals is subject to certain conditions. At the same time, you can transfer your PPF account from one bank branch to another bank.

Public Provident fund

Whereas the PPF account is operated by the Central Government. There is a complete guarantee in this scheme of the central government. In such a situation, interest is also provided in this scheme by the Central Government. At present, interest is being given by the Central Government at the rate of 7.1 percent in this scheme, which is more than many other schemes. On the other hand, if there is a review of the interest rate in three months and the government can also change it if it wants.

The post PPF Scheme: Government announcement! Now you will get excellent returns on PPF scheme, check immediately first appeared on Rightsofemployees.com.

PPF Scheme Latest Update: There is great news for those who open PPF account. If you are also going to open an account in Public Provident Fund, then there is great news for you. Now you will get the benefit of double interest. Information about this has been given by the government. Even today Public Provident Fund Scheme (ppf scheme) is the best option to invest money.

In this, along with better returns, there will be a huge benefit on maturity. Let us tell you how you will get the benefit of double interest-

Will get discount up to 1.5 lakh

PPF investment has been placed in the EEE category. This means that all three investment, interest and maturity amount are completely tax free. If you invest in PPF scheme, you get a deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act.

You get the benefit of double interest

If you are married and you open an account in this scheme with your partner, then you can double your investment. In this way you get the benefit of interest on both the accounts.

Know what is the opinion of the expert?

According to the information received from the expert, you have two options for investing in PPF. You can deposit Rs 1.5 lakh in your account and Rs 1.5 lakh in the account opened in the name of your partner. In this way you will get the benefit of double interest on 2 accounts. At the same time, you can also take tax exemption up to Rs 1.5 lakh on any one account. In this case, the limit of your PPF investment will be doubled to 3 lakhs.

Both accounts will be tax free

Whenever you open a PPF account in the name of your partner, both your accounts will be tax free. Along with this, you will get the benefit of interest on both the accounts. Under section 64 of Income Tax, income from any amount or gift given by you to your wife is added to your income.

Married couples will get double benefit

If you are also married then you will get the benefit of double interest in Public Provident Fund Scheme. Explain that when the PPF account of married couples matures, then the income from the initial investment in your partner’s account will be added to your income on a year-by-year basis. This quarter, the government has fixed the rate of 7.1 percent.

The post PPF Double Interest: Good news for PPF investor! Now you will get double interest, government announced…! first appeared on Rightsofemployees.com.

The Finance Ministry had also issued a circular in this regard on March 31, 2023. In such a situation, account holders can know how to link Aadhaar and its process here. Apart from this, in case of not linking Aadhaar, they may have to face a lot of trouble.

Public Provident Fund (PPF) investment scheme is one of the most popular government schemes for giving high interest. A maximum of Rs 1.5 lakh can be deposited annually in this scheme with an investment limit of 15 years. Interest rate at the rate of 7.1 per cent is applicable on this amount. In this way, Rs 1.5 is deposited every year for 15 years, on which the annual interest rate is Rs 10,650.

It is mandatory to link PPF account holders with Aadhaar

The Finance Ministry has made it mandatory for all types of small savings schemes and post office scheme investors to link Aadhaar. 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, he shall submit the Aadhaar within a period of six months with effect from April 1, 2023. The period of six months will end on 30 September 2023. Investors can also submit PAN along with Aadhaar.

What if PPF account is not linked with Aadhaar?

According to the instructions of the Ministry of Finance, if the Aadhaar number is not submitted to the post office where the PPF account is opened and the PPF account is not linked, then the account will be frozen. In such a situation, the investor may have to face many problems like-

• The amount of interest payable will not be credited to the PPF account holder’s account.
• Investor will not be able to deposit money in his PPF accounts.
• The maturity amount will not be transferred to the bank account specified by the investor.

The post PPF Account Holders: Big news! New update for PPF account holders, do this work quickly, otherwise your account will be locked first appeared on Rightsofemployees.com.

Now it has been made mandatory for you to give Aadhaar card to invest in schemes like Public Provident Fund, Sukanya Samriddhi Yojana, Post Office Savings Scheme, Senior Citizen Saving Scheme, National Savings Certificate. The Ministry of Economic Affairs, Ministry of Finance had issued a notification on March 31, 2023, stating that from April 1, it would be necessary to give Aadhaar to invest in the Small Savings Scheme. Earlier, you could invest in them even without giving Aadhaar details.

What has changed in the rules regarding small savings scheme?

According to the new notification, the subscribers of the Small Savings Scheme will have to submit their Aadhaar to the post office or bank, wherever they have opened an account for investment. If you had not given Aadhaar while opening your account, then you have been given time till September 30, 2023, before which you have to submit your Aadhaar.

Apart from this, any new investor who opens this account will also have to give his Aadhaar. If he does not have Aadhaar, then he will have to apply for Aadhaar and give the enrollment ID of the Aadhaar application. It is necessary that you submit your Aadhaar to the bank/post office within the next six months of opening the account.

What will happen if Aadhaar is not submitted?

If you fail to submit Aadhaar or Enrollment ID of Aadhaar within this period, your account will be frozen after six months. If you have already invested in these schemes, but do not have the details of Aadhaar linked in your account, then do it immediately because if you do not do so by October 1, 2023, your account will also be frozen.

Changed rules for even children (Aadhaar card for kids)

This rule has been applied even to children. That is, if an account is being opened in the name of a child or a minor in these schemes, then it will be mandatory to submit the Aadhaar of that account holder i.e. the child as well. It has been said in this notification that “…the child investing with the desire to take advantage of these schemes will also have to provide proof of his Aadhaar or undergo Aadhaar authentication.” If a child does not have Aadhaar, then with the consent of his parent or guardian, Aadhaar will have to be enrolled, then registration for the scheme will have to be done and then enrollment ID will have to be given on it.

Which documents are required to be submitted?

Those investing in Small Savings Scheme are required to provide some documents-

1. Aadhaar Enrollment ID in case of Aadhaar or non-Aadhaar. (Mandatory)

2. Any one of the other documents mentioned below along with Aadhaar-

• Bank or Post Office passbook with photo
• PAN card
• Passport
• Ration card
• Voter ID Card
• mnrega card
• Kisan Photo Passbook

The post PAN-Aadhaar Card Mandatory: If you invest in schemes like PPF, SCSS, get this work done immediately, otherwise your account will be frozen first appeared on Rightsofemployees.com.

If the contribution is deposited in the PPF account after April 5 for this financial year, then the account holders will be able to earn less interest than the PPF balance. Explain that investing in PPF account before April 5 will help you earn more tax free interest.

As per the rules of the PPF scheme, the interest on the deposit amount is calculated on the basis of the lowest balance in the PPF account at the end of the month on the fifth day of the month. Therefore, if a person is making a lump sum investment, then he should ensure that the PPF contribution is deposited in the PPF account by April 5.

Let us understand from the example that how much interest will be earned on the PPF account if the lump sum amount is deposited before 5th April. Suppose a person opens a PPF account and invests Rs 1.5 lakh in it on 4th April. The amount is deposited before 5th April. The minimum account balance amount of Rs 1.5 lakh between the fifth day and the end of the month will be used for interest calculation. That is, he will get the interest rate on the amount of 1.5 lakhs.

The interest on PPF account is reviewed every quarter. Here in the example, the annual interest rate has been considered as 7.1 percent. Therefore, the person investing will get an interest of Rs 10,650 on a deposit of Rs 1.5 lakh. On the other hand, if the amount is deposited in the PPF account after April 5, then the person will not get the interest for the first month. For the financial year 2023-24 the person will earn interest only for 11 months. It will be Rs 9,762.50 or Rs 9,763 for a deposit of Rs 1.5 lakh.

The PPF scheme comes with a lock-in period of 15 years. Therefore, PPF investment of Rs 1.5 lakh made between April 1 and April 5 in every financial year will fetch an interest of Rs 18,18,209 and a maturity amount of Rs 40,68,209.

If a person makes a PPF investment of Rs 12,500 before the 5th of every month, then the person will get the maturity amount of Rs 39,44,599. A person will earn an additional interest of Rs 1,23,610 by making a lump sum investment in a PPF account between April 1 and April 5 of a financial year.

The post PPF Contribution Deadline: PPF account holders will have to deposit the contribution by this date first appeared on Rightsofemployees.com.

In the new financial year, the rules of Public Provident Fund (PPF), popular among employed people, have changed. Now PAN and Aadhaar number have been made mandatory for investors investing in this scheme.

Earlier investment was allowed without submission of Aadhaar number. Apart from PPF, these new investment rules will also be applicable in other small savings schemes.

Interest blow: The government has increased interest rates on most small savings schemes for the April-June quarter of FY 2023-24. However, the interest rate on PPF remains unchanged at 7.1 per cent for the April-June quarter. The interest of this scheme has not increased for almost 12 quarters.

What is PPF Scheme: This scheme comes under Small Savings Scheme. Under this scheme, you can start investing from Rs.500. A maximum of Rs 1.5 lakh can be invested per year. The scheme has a lock-in period of 15 years. You can withdraw money before the lock-in period subject to certain conditions.

Tax exemption also: In this scheme, you can also get tax exemption under the old tax regime. Let us tell you that loan facility is also available on PPF. At the same time, if you want the benefit of more interest under the scheme, then the amount will have to be deposited between 1st to 4th of the month. This will also entitle you to the interest for the month you start the investment.

The post New rules of Aadhaar-PAN, shock on interest, know how much PPF scheme has changed now first appeared on Rightsofemployees.com.

Actually, the central government is going to relax the process of deposit or investment under the small savings scheme. The purpose of this relaxation is to connect a large number of people with small savings schemes. The people of rural India will be benefited the most.

What is going to change

According to media report, an official associated with the Finance Ministry said that first of all people will be allowed to invest in small savings schemes using Aadhaar instead of PAN card. This exemption will encourage people in rural areas to take advantage of small savings schemes. Let us tell you that a large number of people in India have Aadhaar cards as compared to PAN cards.

What the officer said

KYC norms for small savings schemes have been prescribed for Jan Dhan accounts. Apart from this, the government will also simplify the process related to the claim on the deposit amount of the deceased investor so that there is no dispute. Apart from this, the nomination process will be further simplified.

Interest rate to be decided

Let us tell you that this news has come at a time when the government is about to take a decision on the interest rate of small savings schemes. Explain that the government considers the interest rate of small savings schemes on a quarterly basis.

In this episode, a decision will be taken on the interest for the first quarter of the new financial year i.e. from April to June. There has been no change in the interest rate on popular schemes like Sukanya and PPF for a long time.

The post PPF, Sukanya Yojana: Preparing for major changes in small savings schemes like PPF, Sukanya, this card will not be required first appeared on Rightsofemployees.com.

To keep PPF and SSY active/regular, it is necessary to deposit a minimum amount in a financial year. This minimum deposit for PPF account is Rs 500 in a financial year and Rs 250 for Sukanya Samriddhi Scheme.

What will happen if the minimum account is not deposited

According to the rules, if the minimum amount is not deposited in PPF and SSY accounts within a financial year, then both these accounts become inactive. Therefore, if you have opened an account in either of these two schemes, make the minimum deposit for the current financial year before the end of March. Otherwise the account will become inactive. Although inactive accounts can be made active again, but for this penalty has to be paid.

There is a rule in the post office that if the inactive SSY account is not revived by paying the penalty, then it will become a normal savings account of the post office and interest will be paid accordingly on the total amount present in it.

How to activate PPF account

To re-activate the inactive PPF account, the account holder will first have to submit an application to the bank or post office where the PPF account is maintained. Apart from this, the investor will have to pay a penalty of Rs.50 per annum and Rs.500 per annum as the minimum balance amount, counting from the time/year in which deposits have not been made in the account.

Along with this, the minimum installment of Rs 500 has to be deposited for the year in which the PPF account is being revived. Only after this the account becomes active again. Do note that inactive/discontinued PPF can be revived before the maturity of the account. The maturity period of PPF is 15 years.

How will SSY account be revived?

Deposits in Sukanya Samriddhi account can be made for a maximum period of 15 years from the date of its opening. This account can be opened in the name of a girl child below 10 years of age. The process of reviving SSY is also like that of PPF account. To bring the SSY account back into active mode, a penalty of Rs.50 per annum and a minimum balance of Rs.250 per year will have to be deposited, counting from the period/year from which the deposit has not been made in the account.

At the same time, in the year in which SSY is being revived, the minimum installment of Rs 250 will also have to be deposited for that year. Only after this the account becomes active again. Remember that the inactive SSY account can be revived before the completion of its 15 years.

The post PPF, SSY Account Holders! Big news! PPF, SSY account holder should do this work immediately, otherwise your account will be blocked first appeared on Rightsofemployees.com.

To keep PPF and SSY active/regular, it is necessary to deposit a minimum amount in a financial year. This minimum deposit for PPF account is Rs 500 in a financial year and Rs 250 for Sukanya Samriddhi Scheme.

What will happen if the minimum account is not deposited

According to the rules, if the minimum amount is not deposited in PPF and SSY accounts within a financial year, then both these accounts become inactive. Therefore, if you have opened an account in either of these two schemes, make the minimum deposit for the current financial year before the end of March. Otherwise the account will become inactive. Although inactive accounts can be made active again, but for this penalty has to be paid.

There is a rule in the post office that if the inactive SSY account is not revived by paying the penalty, then it will become a normal savings account of the post office and interest will be paid accordingly on the total amount present in it.

How to activate PPF account

To reactivate the inactive PPF account, the account holder will first have to submit an application to the bank or post office where the PPF account is maintained. Apart from this, the investor will have to pay a penalty of Rs.50 per annum and Rs.500 per annum as the minimum balance amount, counting from the time/year in which deposits have not been made in the account.

Also, the minimum installment of Rs 500 has to be deposited for the year in which the PPF account is being revived. Only after this the account becomes active again. Do note that inactive/discontinued PPF can be revived before the maturity of the account. The maturity period of PPF is 15 years.

How will SSY account be revived?

Deposits in Sukanya Samriddhi account can be made for a maximum period of 15 years from the date of its opening. This account can be opened in the name of a girl child below 10 years of age. The process of reviving SSY is also like that of PPF account. To bring the SSY account back into active mode, a penalty of Rs.50 per annum and a minimum balance of Rs.250 per year will have to be deposited, counting from the period/year from which the deposit has not been made in the account.

At the same time, in the year in which SSY is being revived, the minimum installment of Rs 250 will also have to be deposited for that year. Only after this the account becomes active again. Remember that the inactive SSY account can be revived before the completion of its 15 years.

The post Post Office Alert! Do this work in PPF, SSY before March 31, otherwise the account will become inactive first appeared on Rightsofemployees.com.

Failure to do so may result in financial loss to you. Actually, as soon as the month of March starts, the deadline of many financial works comes closer. If you are a PPF account holder and have not deposited money in the account at one go in this financial year, then settle this work today itself. Failure to do so will result in your account being deactivated.

How much investment is required

Under the Public Provident Fund Scheme, every account holder is allowed to invest from Rs 500 to a maximum of Rs 1.5 lakh in a year. You can claim the money deposited in this scheme for tax exemption under section 80C of Income Tax. If you have not invested even a single rupee in this scheme in the whole year, then do this work today itself.

Otherwise after 31st March your account will be deactivated. To activate it again, you will have to pay a fine of Rs 50 per year. You can activate this account up to 15 days before maturity. After the maturity of the account it cannot be activated.

This much interest rate is available in PPF account-

Public Provident Fund is a small savings scheme run by the government, in which you can invest for 15 years and get a hefty fund on maturity. Every citizen of the country can invest in this. Investments can be made in this account for 15 years. After maturity, you can extend your investment limit for 5 years. On investing in this account, the account holders get an interest rate of 7.1 per cent.

Loan is available against the amount deposited in PPF account

Account holder loan facility is also available against the amount deposited in PPF account. After investing in PPF for three consecutive years, you can get up to 75 percent of the total amount deposited in the account as a loan. At the same time, after investing in the account continuously for 6 years, the facility of partial withdrawal is available.

Withdrawal from PPF account before maturity can be done only on the condition that you need money in emergency. You can withdraw from the PPF account for the treatment of your family or your own illness, children’s education and marriage expenses.

The post PPF Account Holders Alert! Do this work immediately, otherwise there will be a big loss first appeared on Rightsofemployees.com.

If you invest in PPF (Public Provident Fund), Sukanya Samriddhi Yojana or such schemes, then the government keeps on making some changes from time to time. If you also do not keep updated with the rules applicable to them, then know how much loss can be caused to you. Let us tell you what changes have taken place in PPF schemes.

You can start investing with a small amount.
You can also take advantage of the savings schemes of the government with less money. Your money remains safe in these schemes. You can deposit money up to 1.50 lakh in these. The government has reduced the interest rate of PPF to 7.10 percent.

Money is deposited once a month,
you can invest up to Rs 500 in PPF in at least 1 year, if you deposit up to Rs 1.5 lakh in PPF in 1 year, then you get the benefit of tax exemption. So you can deposit money in this every month

Account will not be closed even after 15 years,
investment in it gets closed after 15 years. But if you want to invest more in this, then you can invest in this scheme even after 15 years, but then you can withdraw the money only once in 1 year.

How to open account
You have to submit Form-1 to open PPF account. If you want to invest even after 15 years, then you have to apply in Form-4.

How to take loan on PPF account
You can easily get loan on PPF account. You get a loan of only 25% of the money in your PPF account.

The post PPF Update: The central government has made a big change in the rules of PPF, if you have an account then know immediately! first appeared on Rightsofemployees.com.

One scheme is Public Provident Fund (PPF). This is a good option for making substantial corpus in the long term. Investors are benefited in many ways in this. First it comes in EEE (Exempt, Exempt, Exempt) category. Second, it offers guaranteed interest, which the government decides every quarter.

The third advantage is that the investment in it remains safe. There is no effect of market fluctuations. Up to Rs 1.5 lakh can be invested in PPF every year. Being a long term savings product, investors get tremendous benefit of compounding.

PPF: Account can be opened with ₹ 500

In the Public Provident Fund (PPF) scheme, an account can be opened with a minimum of Rs 500. This account can be opened in the nearest post office branch or designated bank branch. Minimum 500 and maximum 1.5 lakh rupees can be deposited in this account in a financial year. From January 1, 2023, this scheme is getting 7.1 percent interest annually. Compounding in this scheme is done on an annual basis. The maturity of PPF account is 15 years. But account holders can apply to increase it in a block of 5-5 years. In this, he also gets the option of continuing the contribution or not.

42 lakh fund with 5,000 monthly investment

In PPF, investors get the power of compounding. Suppose you deposit Rs 5,000 every month in your PPF account. In this way your annual investment becomes Rs.60,000. When your PPF account matures in 15 years, when you will get Rs 16,27,284. If you extend the deposit for the next 10 years in a term of 5-5 years, then after 25 years your fund will be around 42 lakhs (Rs 41,57,566). In this, your contribution will be Rs 15,12,500 and interest income will be Rs 26,45,066.

Keep in mind here that this calculation is based on the entire maturity period at 7.1% interest per annum. In PPF account, the government changes the interest rates on a quarterly basis. If the interest rates are low or high, then your corpus can also increase or decrease.

Money completely safe, tremendous benefit of tax

The government sponsors small savings schemes. Therefore, in this, the customer gets complete protection on the investment. There is a sovereign guarantee on the interest earned in it, which makes it safer than bank interest. Bank deposits are insured up to Rs 5 lakh by the Deposit Insurance and Credit Guarantee Corporation (DICGC).

Tax benefit is available in PPF under section 80C of the Income Tax Act. In this, deduction of investment up to Rs 1.5 lakh can be taken in the scheme. Interest earned in PPF and maturity amount are also tax free. In this way investment in PPF comes under EEE category. Loan facility is also available on PPF account. You can apply for a loan after completion of one year from the end of the year in which the PPF account is opened and before completion of 5 years.

The post PPF Super Scheme: Deposit ₹ 5,000 monthly, get ₹ 42 lakh guaranteed in 25 years first appeared on Rightsofemployees.com.

Even in today’s time, post office is the best option for investment. In this, along with the security of money, you get a guaranteed return of 7 to 8 percent. Along with this, in many schemes, you can double the money in a few years.

National Savings Certificate

The interest rates have been increased by the government in the National Savings Certificate Scheme. In this, instead of 6.8 percent, you will get the benefit of 7 percent interest from now on. In this you also get the benefit of compounding interest and in this you will get very good returns. In this, you do not have to pay any tax on filling the money.

Senior Citizen Savings Scheme

Senior Citizen Savings Scheme is considered very good for post-retirement. At the age of 60, any citizen can invest in this scheme. Even within a month of retirement, you can deposit money till the age of 55 to 60 years. In this, an account can be opened with a minimum of Rs 1000. The maximum investment is Rs 15 lakh. Interest is given on a quarterly basis in this scheme. If you withdraw money after one year and close the account, then you will be given back the money with 1.5% and in this you get income tax rebate of up to 1.5%. In this you get up to 8 percent interest.

Sukanya Samriddhi Yojana

With the help of Sukanya Samriddhi Yojana, you can save from 1.27 lakh to 64 lakh for your girl child. If your daughter’s age is less than 10 years, then you can open an account for the daughter and for this the government gives you interest at the rate of 7.6 percent. In this you get tax exemption. Along with this, money also does not have to be deposited. From 50-100 rupees to 500-1000 or more than 1.5 lakh rupees, you can do as much as you want.

Public Provident Fund

Public Provident Fund In this schemes of the government, you can get better returns in your coming time. The government has started this for those people who want to get the benefit of provident fund even without a job. It is considered a safe investment option because by investing in it you get a government guarantee and you get 7.1 percent interest in it.

The post Post Office Best Schemes: Money is invested in Sukanya Samriddhi, SCSS or PPF, so this big update came for you first appeared on Rightsofemployees.com.

The post PPF interest Rate Increased: Government has increased the interest rates of Public Provident Fund, see here new interest rate first appeared on Rightsofemployees.com.

Various schemes are run in the post office from ordinary citizens to senior citizens. In such a situation, all the schemes are such that they mature in 5 years. If you want to withdraw money before their maturity, then you will have to bear some loss in the form of penalty. Know about these schemes here.

Post Office MIS

In Post Office MIS i.e. Monthly Income Scheme, you have to deposit a lump sum amount for 5 years. Through this, you can get a fixed amount every month for 5 years as income. After 5 years you get your money back. But if you need money before 5 years then you have to pay penalty. If you withdraw money between one year to three years, then 2% of the deposit amount will be deducted and returned. On the other hand, if the account is more than three years old but you want to withdraw money before 5 years, then after deducting 1% from the deposited amount, the deposit amount is returned to you.

Senior Citizen Saving Scheme

In this post office scheme also you have to invest for 5 years. The deposit matures after 5 years from the date of opening the account. But if you have to withdraw money from it before five years, then penalty has to be paid. In this, 1.5% of the deposit amount is deducted for withdrawing money before completion of 2 years and 1% of the deposit amount is deducted as penalty for withdrawing money after 2 years.

Post Office Recurring Deposit Account

The recurring deposit account of the post office is also for 5 years. Investors of Recurring Deposit Account get the facility of withdrawal after 3 years. On premature withdrawal, you will get the benefit of the rate of interest as per the savings account only.

Kisan Vikas Patra

This scheme, which doubles the investment in 124 months, has a lock-in period of 30 months. In this scheme, if you withdraw money before 1 year, then you will not get any interest on it. According to the scheme, the investor will also have to pay a penalty for withdrawing money. Interest will be earned on withdrawing money between 1 year to 2.5 years, but the amount will be reduced. After 2.5 years, if the KVP is broken and the money is withdrawn, then no penalty will be imposed and the return will be given according to the interest rate prevailing at that time.

Public Provident Fund

This scheme is of 15 years, but the lock in period is of 5 years. But if after 5 years you can withdraw money with certain conditions and close the account. But 1% interest is deducted from the date of account opening till the date of closure.

The post Post Office Withdrawal Rules: Big change in the rule of premature withdrawal in these top 5 post office schemes first appeared on Rightsofemployees.com.

Thus, a person can start a PPF account with as little as Rs 500, while the maximum amount that can be invested in it in a financial year is Rs 1.5 lakh. Not only this, the PPF scheme also gives the facility of loan and partial withdrawal to the account holder after a period of time.

Benefits of PPF Scheme

Being a safe plan, PPF account offers many benefits including tax deductions.

1. Eligibility Criteria

PPF account is equally available to all. Any person can open SBI PPF account in his own name. In case of a minor, it can be opened on behalf of the minor child through parents and guardians.

2. Investment limit

As mentioned earlier, the minimum amount that can be invested under this scheme is Rs.500 while the maximum amount is Rs.1.5 lakh per annum. The policyholder can invest by paying a lump sum amount or it can be done in 12 easy installments in a year.

3. Long policy term

The maximum term for a PPF account is 15 years. However, after the maturity of the policy, the policyholder can extend the term of the account for another 5 years

4. Best interest rates

The PPF interest rate is decided by the Central Government every quarter. The current rate of interest is 7.1% per annum, calculated on the minimum balance in the account and reckoned from the 5th day till the end of the month

5. Tax Exemption

SBI PPF accounts allow tax benefits under section 80C of the Income Tax Act. The returns received under this scheme are also tax free.

6. Easy Loan and Withdrawal Facility

The PPF scheme allows easy availability of loans and withdrawals based on the age of the account as well as the balance available in the PPF account.

7. Nominee facility

PPF account is available with nominee facility. Policyholder can nominate one or more person as nominee and also decide how much to pay to different nominees

8. Account Transfer

Another advantage of PPF account is that it allows the policyholder to transfer the account. So, you can transfer your PPF account to any other branch of your bank, to any other post office or to a new bank without any charges.

The post PPF Investor Big Alert! New update regarding investment in PPF! don’t put money without knowing this first appeared on Rightsofemployees.com.

By investing in PPF, people can save a significant amount and can also get good returns. Today we are going to tell you about the PPF scheme in detail.

PPF Scheme

Public Provident Fund is a scheme run by the Central Government. In this, there is a guarantee of the government and interest is also earned at a fixed rate. At present, interest is being given at the rate of 7.1 percent in the PPF scheme. At the same time, investment is made in this scheme for a long period.

PPF Investment

Investors can invest in PPF scheme for 15 years. However, there is also a limit to invest in this scheme. The limit of this investment should also be kept in mind. Actually, an investor can currently invest Rs 1.5 lakh in a financial year in the PPF scheme.

Tax Benefit

In such a situation, if investing in PPF scheme, then keep in mind that at present Rs 1.5 lakh is invested in this scheme in a financial year and according to the current rate, interest will be earned at the rate of 7.1 per cent on an investment. . At the same time, tax benefit is also available on this investment.

The post PPF Maximum Limit: You will be able to invest this amount in PPF scheme, know investment limit first appeared on Rightsofemployees.com.

PPF account is opened for 15 years. In this you get the benefit of compounding. At present, interest is being received on PPF at the rate of 7.1 percent. But suppose that due to some circumstances you are not able to continue the PPF account and want to close it before maturity, then what are the terms and conditions for the same. Know about it here.

Can be closed after 5 years

In some special circumstances, you are allowed to close the PPF account prematurely. But for this also your account should be at least 5 years old. You can only take PPF loan before completion of 5 years, cannot get it closed. Also, you must have one of the prescribed reasons to close the premature account. Know the conditions-

• If there is a medical emergency and you need money for the treatment of yourself or a family member.
• If you need money for your own higher education or higher education of your child. 
• The account can be closed before maturity even in case of death of the account holder. In this situation the 5 year rule does not apply.
• If you withdraw before the account matures, then the money will be returned by deducting 1% interest.

Written application required

For premature closure of PPF account, you have to submit a written application to the home branch of the bank account. In this application, you have to tell the reason why you are closing the account. Meanwhile, you have to attach some documents along with the application. It should have a copy of PPF passbook.

Also, if you are closing the account for the treatment of illness, then the documents given by the medical authority, if you are closing the account for higher education, then the receipt of fees, bills of books and documents confirming admission and in case of death I have to attach death certificate. After the verification of the documents, the application for closure of the account is accepted. After this your account is closed but the penalty amount is deducted.

The post PPF Premature Rules: Big news! Major change in rules for closing PPF account before maturity, know new rules first appeared on Rightsofemployees.com.

After the death of the account holder, the nominee can claim the amount by submitting a form available on the website of the bank or post office. An amount up to Rs 1 lakh can be claimed without any succession certificate.

The money can be claimed by the nominee on the death of the PPF account holder. The loan amount to be repaid by the account holder will be deducted before the credit is transferred. Form G has to be filled for the claim.

Must provide this information

Form G can be downloaded from the website of the bank or post office. In this form, account number, nominee details, mobile number etc. information has to be filled.

How to get PPF death claim form?

There are three situations where the claim is generated on the death of the account holder. Some necessary documents have to be submitted for claiming.

When enrollment

• Form filled by the nominee
• Death Certificate
• Account holder’s passbook

Nomination is not there and claim legal heir

• Form filled by the legal heir
• Death certificate
• Attested copy of succession certificate or will

Other important things about PPF

• Interest is earned on the money deposited in the PPF account till the money is claimed.
• The PPF account does not continue after the death of the subscriber.
• Interest is not earned on the amount deposited in the PPF account after the death of the subscriber.
• Claims up to Rs 1 lakh can be made without a succession certificate.

The post PPF Claim Rules Change: Now after the death of PPF account holder, claim will have to be done like this first appeared on Rightsofemployees.com.

It is also true that our long term goals can be fulfilled only through less income tax and tax savings. Everyone has given their recommendations regarding the budget. The biggest demand from the job profession is to make income up to Rs 5 lakh tax free. Apart from this, there is also a demand to increase the investment limit under Section 80C of Income Tax.

In the recommendation sent by the Institute of Chartered Accountants of India (ICAI), it has been recommended to increase the annual deposit limit of PPF from Rs 1.5 lakh to Rs 3 lakh. Along with the employed, this is also a favorite savings scheme for businessmen. If this step is taken by the government, then it will prove to be the most beneficial announcement for non-salaried people, because such people do not even have the option of investing in EPF.

It is necessary to increase the deposit limit of PPF

In the suggestion sent by ICAI, it was said that it is necessary to increase the deposit limit of PPF. Because it is a safe and tax effective savings scheme. ICAI has also been asked to allow separate deductions on premiums for house insurance, travel insurance, personal accident insurance etc. to encourage tax payers to invest.

50% HRA benefit available in other metro cities as well

When it comes to House Rent Allowance (HRA), tax payers get the benefit of income tax deduction. This benefit is also available on the basis of metro and non-metro cities. Now experts have also suggested that apart from Delhi, Mumbai, Kolkata and Chennai, the benefit of dearness allowance of 50 percent of the basic salary should also be available in other metro cities.

What is PPF?

Public Provident Fund (PPF) is one of the most popular, long-term investment options in India. This is a savings scheme for investors to save for a long time after retirement. According to experts, opening a PPF account in the name of one’s life partner will also double the investor’s PPF investment limit, although the income tax exemption limit will still be Rs 1.5 lakh.

The post PPF Deposit Limit Increase: Good news for PPF investor ! Will the Finance Minister make this big announcement? first appeared on Rightsofemployees.com.

It has been said by the postal department that many post offices are not settling the death claims on time. Also, they are not following the necessary rules for death claim. In such a situation, the postal department has directed to settle the death claim immediately and said that any such case should be settled within the time limit.

These instructions have to be followed for death claim 

The department said that the post office will have to ensure settlement of deceased claim cases within the prescribed time limit. In the information issued by the Department of Posts on January 9, 2023, it has been said that it is necessary to follow certain rules for timely disposal of death claim cases. 

• KYC documents should be there during the death claim and it is necessary to get it verified in the post office.
• Signatures of witnesses are also required on the copy of KYC documents. If the signature is not there, then the witness will have to go to the post office.
• It is also necessary to provide the claimant’s signature, bank account and other documents.
• It is mandatory to provide all the documents sought to settle the death claim, otherwise the money may stop.
• Death claim can be made in just one day in case of nominee and within seven days in other case. 

Legal documents to be given 

If the amount issued under any scheme is more than five lakh rupees and there is no nomination or nomination in that account, then it is necessary to give legal documents issued by the court. However, if the amount is five lakh rupees, then there is no need to provide any legal document for the death claim. 

The post Post Office Department Issued New guidelines for the beneficiaries of PPF, NSC and Sukanya Samriddhi first appeared on Rightsofemployees.com.

But before this, the Finance Minister is being informed about their demands on behalf of different sectors. Along with this, the Union Finance Minister is being demanded to give relief in the upcoming budget.

Modi government’s last budget

Sources also claim that the government is thinking of giving relief to both farmers and employed people in this budget. Actually, this will be the last budget of the Modi government before the 2024 Lok Sabha elections. In the Union Budget, the limit of savings under section 80C is expected to be increased from Rs 1.5 lakh to Rs 2.5 lakh. In the Pre-Budget Memorandum 2023 from ICAI, the common man has been asked to save more.

Demand for relief for a long time There is a demand from the common man to give relief under 80C for a long time. ICAI has also demanded to increase the investment limit in Public Provident Fund (PPF). At present this limit is 1.5 lakh, which is being demanded to be increased to 3 lakh. ICAI’s argument behind the demand for increasing the PPF limit is that it is a safe investment option for businessmen and job professionals.

Due to the accumulation of PF of the employed, there is not much scope for investment under it. In such a situation, he has limited options for tax saving. For the last several years, there is a demand to increase the limit of Rs 1.5 lakh under 80C. Apart from this, ICAI has also requested the Finance Ministry to increase the limit of expenditure under 80DDB.

The post Big news for PPF account holders! know when the Finance Minister will make this big announcement? first appeared on Rightsofemployees.com.

Public Provident Fund (PPF) is a safe investment scheme. Due to the excellent returns and tax savings, the number of people investing in PPF is increasing. The government is paying interest at the rate of 7.1 percent on the amount deposited in the PPF account. PPF account can be opened in post office or any bank branch.

A minimum of Rs 500 and a maximum of Rs 1,50,000 can be deposited in PPF account per year. This is the scheme of EEE category. This means that the amount deposited every year, the interest earned on this amount every year and the entire amount received at the time of maturity are tax free.

The lock-in period of PPF is 15 years. If money is needed, some amount can be withdrawn from the PPF account even before 15 years. If you want to withdraw money from the account before 15 years or want to close it, then for partial withdrawal you have to follow certain conditions. After 15 years, the entire amount deposited in the account can be withdrawn.

What is the rule of partial withdrawal

According to a media report, PPF account holders can withdraw 50% of the amount from the PPF account in the 7th year. Please tell that the PPF account is completely locked in for the first 6 years. If a person has to start investing in the financial year 2020-2021, then he can withdraw money only after 2025-2026 in case of emergency. You do not have to pay any tax even if you withdraw money before time. If the account holder dies before the maturity of the PPF account, then this condition of 7 years is not applicable to the nominee of the account holder. Nominee can withdraw money anytime.

You can also close the account earlier

In some circumstances, your PPF account can be closed before the end of the 15-year period. According to the PPF Withdrawal Rules 2021, the PPF account can be closed prematurely if the account holder or dependents have a life-threatening illness or need money for higher education. If it is closed before the maturity period, 1% interest is deducted from the date of opening till the date of closure.

How to withdraw money Form C has to be submitted for premature withdrawal of money from PPF account. This form is available in post office and bank. In the form, you have to fill the account number and the amount you want to withdraw. You have to submit the form along with the passbook. The amount will be deposited directly into your savings account, or you can take the same through demand draft.

The post PPF maturity Rules Change: Big News! Changed rule to close account before maturity, check immediately first appeared on Rightsofemployees.com.

Also, people have less knowledge about the tenure of this savings scheme. In such a situation, today we are going to tell many things regarding the tenure of PPF.

PPF Maturity Rule

PPF is such a scheme being run by the government, in which people can save, invest and also save tax. PPF is a long term investment with a tenure of 15 years but that does not mean that your money gets locked in for that long. The period of 15 years is from the day of opening of the account. Tenure of 15 years means that the maturity of the PPF account will be for 15 years from the day the PPF account is opened.

PPF Balance Check

However, if some fund is to be withdrawn from PPF before maturity, then that can also be done. Partial withdrawal is allowed from the PPF account after the sixth year. That’s why some investors use PPF as an emergency fund. PPF allows investors partial withdrawal in case of emergency. From the PPF account after the sixth year, an investor can withdraw up to 50% of the balance at the end of the fourth year or 50% of the account balance at the end of the financial year preceding the year of withdrawal.

PPF Amount On the other hand, if the account is extended with additional contribution, then the withdrawal limit can be 60% of the account balance at the beginning of the extended period. However, if the fund is to be withdrawn before maturity, it can be withdrawn only on emergency. PPF operates under a mandatory lock-in period of 15 years.

In such a situation, some funds can be withdrawn from the PPF account after the completion of the 5th financial year from the year in which the PPF account was opened. For example, if the PPF account was opened in February 2015, then withdrawal from PPF can be done from the financial year 2020-21. At the same time, partial withdrawal is allowed only once in every financial year.

The post PPF Maturity Rule Change: Big news! Now you can’t withdraw money in this scheme for so many years first appeared on Rightsofemployees.com.

Which is this scheme?

We all know about the PPF scheme. Under Public Provident Fund i.e. PPF scheme, you can open your account in any nearest post office or any bank branch. In this, at least Rs 500 to Rs 1,50,000 can be deposited. The interest of the money deposited in it is added to the account on the last day of the year. At present, the government gives interest at the rate of 7.1 percent.

This way you will get 2 crore 26 lakh rupees

If you open an account at the age of 25 and deposit Rs 1.5 lakh in the account every year on April 1, then at this rate Rs 10,650 more will be deposited in the account on March 31 of the next year. After this, on the first day of the financial year, you will have a total of Rs 1,60,650 in your account. Next year, if you deposit Rs 1.5 lakh again, this amount increases to Rs 3,10,650, on which you get a profit of Rs 22,056.

Similarly, if you deposit money for 15 years, then Rs 40,68,209 will be deposited in your account after maturity. Let us tell you that it can be extended further. When your account completes 20 years, then the total amount in the account will be Rs 66,58,288. Similarly, if your account runs for 35 years, then you will get maturity amount of Rs 2 crore 26 lakh.

The post Super Retirement Plan: Invest in this government scheme now, after retirement you will become owner of 2.25 crores first appeared on Rightsofemployees.com.

If properly invested in PPF, then at the time of retirement you will have tax free fund of crores of rupees in your hands. Compound interest is available on the money in PPF. This feature of compounding increases money. At present, the government is paying interest at the rate of 7.1 percent on the amount deposited in the PPF account.

Any Indian can invest in PPF. PPF account can be opened in post office or any bank branch. A minimum of Rs 500 and a maximum of Rs 1,50,000 can be deposited in the PPF account per year. The interest on this amount is added to the account on the last day of every financial year. This is the scheme of EEE category. This means that there is no tax on the amount deposited every year, the interest earned on this amount every year and the entire amount received at the time of maturity is tax free.

How PPF will make you a millionaire

By starting early investing in PPF and maintaining the investment till the age of 60, a person can create a corpus of crores of rupees for retirement. PPF account matures in 15 years. But, the term of the account can be extended for five years even after maturity. If a person opens a PPF account at the age of 25 and deposits Rs 1.5 lakh in his account on April 1 every year, then Rs 10,650 will be deposited as interest in the PPF account on March 31 next year at an interest rate of 7.1 per cent. Will be

This will make the account balance Rs.1,60,650 on the first day of the next financial year starting on 1st April. This amount will increase to Rs 3,10,650 if Rs 1.5 lakh deposited in the second financial year of account opening is added.

In the second year, the account holder will get Rs 22,056 interest on the amount of Rs 3,10,650. Similarly, if the investor keeps depositing 1.5 lakh in the account every year on April 1, then after completion of 15 years of maturity, the PPF account will be Rs 40,68,209. Out of this, Rs 22,50,000 will be the principal amount and Rs 18,18,209 will be of interest.

Maturity will have to be extended for 5-5 years

PPF account can be extended for five years by applying before maturity. An investor investing from the age of 25 years will become 40 years old on maturity of the account. After this, by extending the PPF account for five years and maintaining the same annual investment routine as before, then by the time the investor turns 45, the total amount deposited in the account will be Rs 66,58,288.

Now again he has to extend the account for five years and continue investing as before. Next time at the time of maturity, i.e. at the age of 50 years of the account holder, the total amount in the PPF account will be Rs 1,03,08,014. Once again, on increasing the account for five years, the account holder will be able to invest Rs 1.5 lakh every year till he is 55 years old. On maturity of five years, there would have been Rs 1,54,50,910 in the PPF account.

The fund will be above 2 crores

this time one has to get the last extension of PPF account and after making continuous investment every year when the PPF account matures i.e. when the account holder will be 60 years old then the total accumulated amount in his account will be 2,26,97,857 Will be Rs. In this, the total investment of the account holder will be Rs 52,50,000, the amount of interest received on this investment will be Rs 1,74,47,857.

The post Public Provident Fund: Big news: PPF account gives the benefit of compounding, you will have Rs 2.25 crore on the day of retirement, how first appeared on Rightsofemployees.com.

There are many benefits of investing in PPF and this scheme can be invested for a long time. At the same time, there are some eligibility criteria for investing in PPF, which should be taken care of. Along with this, who can invest in PPF and who cannot invest, should also be fully updated about this.

Tax savings Actually, to open a PPF account, a person has to fulfill certain qualifications. On opening the account, you can get tax benefits under section 80C of the Income Tax Act. On the other hand, the interest and returns received under PPF are not taxable under income tax.

Who can open PPF account?

Only Indian citizens living in the country can open a PPF account. Individuals above 18 years of age are eligible to open an account in PPF. There is no upper age limit for opening PPF account. At the same time, you can open only one PPF account in your name. Even if you fulfill all the eligibility criteria for a PPF account, you cannot open another account.

Who cannot open PPF account

NRIs and Hindu Undivided Families (HUF) are not allowed to open PPF accounts. Although there are some exceptions to this as well. If a resident Indian who has now become an NRI can continue with his existing PPF account till the tenure of that account is over. Although NRIs can keep their existing account till the maturity period of 15 years but after 15 years they cannot extend it beyond 5 years.

The post PPF Account: Big update on PPF, these people cannot open account in this scheme first appeared on Rightsofemployees.com.

At the same time, many schemes are being offered by the government with the intention of attracting people to invest for the long term. One of these schemes is also Public Provident Fund (PPF). Through PPF, people get a chance to save and invest for a long time.

Interest Rate

Under the PPF scheme, an investor can make a minimum investment of Rs 500 in a year. At the same time, a maximum investment of Rs 1.5 lakh can be made in this scheme in a year. At present, 7.1 percent interest is being given by the government in this scheme.

PPF Tenure People are encouraged to invest in this scheme of the government for a long period. Investment can be made in this scheme for a tenure of 15 years. On the other hand, if the investment is to be continued even after 15 years, then according to 5-5 years it can be extended even further. Talking about the maturity amount, it depends on the investment.

PPF Aadhaar Linking At the same time, it is very important to do one thing in the Public Provident Fund (PPF) and it should be done immediately, otherwise even years of hard work can turn water. Actually, PPF account should also be linked with Aadhaar card. Many tasks will become easier when PPF account is linked to Aadhaar card.

Link Aadhaar Card with PPF

• First login to your internet banking account.
• After this choose Registration of Aadhaar Number in Internet Banking.
• After this enter the 12 digit Aadhaar number and click on Confirm.
• After this, choose your PPF account, which you want to link with Aadhaar card.
• After this click on Inquiry and check whether your Aadhaar card is linked to PPF account or not.

The post PPF Account: Big news! Do this work immediately in PPF account, otherwise…. first appeared on Rightsofemployees.com.

After the huge increase in the repo rate by the Reserve Bank of India this year, it is expected that the government may increase the interest rates of small savings schemes. RBI has increased the repo rate by 225 basis points i.e. 2.25 percent in five times in the year 2022. Only last week, the central bank had increased the repo rate by 35 basis points.

The government has to revise the interest rates of small savings schemes at the end of the year 2022. The government will decide the interest rates for the January-March 2023 quarter. The purpose of small savings schemes is to encourage common people to save. There are three categories of small savings schemes – savings scheme, social security scheme and monthly earning scheme.

These are the small savings schemes

The savings scheme category includes 1-3 year time deposit and 5 year recurring deposit. Apart from this, savings certificates like National Savings Certificate (NSC) and Kisan Vikas Patra are also included in this. Social security schemes include Public Provident Fund (PPF), Sukanya Samriddhi Yojana and Senior Citizen Savings Scheme. Monthly Income Savings includes Monthly Income Plan.

Interest rates were increased last time

The interest rates of small savings schemes are revised every quarter. For the current quarter, the government had increased the interest of Kisan Vikas Patra (KVP), Senior Citizen Saving Scheme, Monthly Income Scheme and savings schemes for 2 to 3 years by 10-30 basis points i.e. from 0.10 to 0.30 percent. At the same time, there was no change in the interest rates of PPF, Savings Scheme, National Savings Certificate and Sukanya Samriddhi Yojana.

Right now this much interest is being received

4% interest is being received annually on Post Office Savings Deposit. 5.5% interest is available on 1 year time deposit and 5.7% interest on 2 year deposit. At the same time, 5.8 percent interest is currently being given on 3-year time deposits. 6.7 percent interest is being received on FD of 5 years. Investors are getting 5.8 percent interest on five-year recurring deposit (RD). Investors who have invested in National Savings Certificate (NSC) and Sukanya Samriddhi Yojana are being given interest of 6.8 percent and 7.6 percent respectively. 7.1 percent interest is being received on the money invested in PPF.

The post Interest Rate Increased: Those who invest money in Sukanya Samriddhi Yojana and PPF will get good news soon! Interest rate may increase on new year first appeared on Rightsofemployees.com.

As soon as the Modi government came to power in the year 2014, the investment limit in PPF was increased, due to which more tax exemption was available. At the same time, a big cut has been made in its interest rates in a decade.

Since the year 2013, the interest rates on care continuously decreasing. In the year 2014, the government increased the investment limit in PPF from Rs 1 lakh to Rs 1.5 lakh annually. However, since then the interest rate has come down from 8.8 per cent to 7.1 per cent. That is, within just a decade, the interest rates on this scheme have come down by 1.7 percent. If you look at the official figures, the interest on PPF was 8.8 per cent in the year 2013, which has now come down to 7.1 per cent.

Interest decreasing year by year

Talking about interest on PPF, from April 1, 2013 to March 31, 2014, the total interest was 8.7 per cent and the investment limit was Rs 1 lakh. After this, from April 1, 2014 to March 31, 2016, the investment limit was increased to Rs 1.5 lakh, while the interest rate remained the same at 8.7 percent. Between April 2016 and September 2016, the PPF interest rate was revised and it came down to 8.1 per cent.

Interest kept decreasing further

After this, between October 2016 and March 2017, the interest rate of PPF decreased again and it came down to 8 percent. This process did not stop and till June 2017 its rate fell to 7.9 percent. By September, the PPF interest rate had come down to 7.8 per cent. Then between January and September 2018, it declined further by 0.20 per cent. The interest came down to 7.6 per cent.

Big reduction in the Corona

period Its interest rate increased between October 2018 and June 2019 and reached 8 percent, but it declined again from July 2019 to March 2020 and the effective interest rate came down to 7.9 percent. Then came the time of the Corona period and the government reduced its interest rate to 7.1 percent in April 2020, which is still maintained. In this, the maximum limit of the investor remains 1.5 lakh only.

The post PPF Investment limit increased: Investment limit increased in a decade but interest rate decreased by 1.7%, is the scheme still effective for retirement? first appeared on Rightsofemployees.com.

Make long term investment like this

Public Provident Fund is a long term investment, which gives you good returns at the right time. You get very good returns in this. You can invest up to Rs 1.5 lakh in PPF in a year, ie Rs 12,500 a month. So let’s know how much you have to invest every month and for how long to become a millionaire.

7.1 percent interest on PPF

At present, the government pays an annual interest of 7.1 percent on the PPF account. Investment is made in this for 15 years. Accordingly, the total value of the investment of Rs 12500 per month will be Rs 40,68,209 after 15 years. The total investment in this is Rs 22.5 lakh and the interest is Rs 18,18,209.

How will the fund of one crore rupees

Case No. 1

1. You are 30 years old now and have started investing in PPF.
2. After depositing Rs 12500 every month in PPF for 15 years, you will have Rs 40,68,209.
3. Now keep increasing this amount in PPF for a period of 5-5 years.
4. After investing 5 more years after 15 years i.e. after 20 years this amount will be = Rs
66,58,288

So this is how you will become a millionaire

That is, if you invest Rs 12500 every month in PPF at the age of 30, then you would have become a millionaire after 25 years, ie at the age of 55. Please tell that the maturity of PPF account is 15 years. If this account is to be extended for 15 years, then this account can be extended for the next five years according to five years.

Case No. 2

If you want to invest a little less amount in PPF instead of Rs 12500, but want to become a millionaire at the age of 55, then you have to start a little earlier.

1. You started putting Rs 10,000 a month in PPF account at the age of 25.
2. According to 7.1 percent, after 15 years you will have a total value of – Rs 32,54,567.
3. Now extend it again for 5 years, then after 20 years the total value will be- Rs.53,26,631.
4. Carry it forward again for 5 years, the total value after 25 years will be – Rs
82,46,412
Will become a millionaire at the age of one year.

case number 3

If you deposit only Rs 7500 per month in PPF instead of Rs 10,000, you will still become a millionaire by the age of 55, but you will have to start investing at the age of 20.

1. If you keep depositing Rs 7500 in PPF for 15 years at 7.1% interest, then the total value will be –
Rs 24,40,926
If further extended i.e. after 25 years this amount will be – Rs 61,84,809
4. If extended further for 5 years, after 30 years this amount will increase to – Rs 92,70,546
5. If 5 more years continue the investment, 35 years After that the amount will be – Rs 1,36,18,714
6. That is, when you will be 55 years old, you will have an amount of more than Rs 1.25 crore. Remember, the trick to becoming a millionaire is to take advantage of PPF compounding, start investing early and keep investing with patience.

The post Public Provident Fund: Invest 7500 rupees in this post office scheme! Quickly become a millionaire, understand the trick first appeared on Rightsofemployees.com.

There are many schemes going on in the market regarding investment, some of them are Fixed Deposit, Public Provident Fund (PPF) and National Pension System (NPS). Talking about NPS, it is a voluntary retirement savings scheme, which encourages you to have planned savings. In this, you can keep your savings safe in the form of pension.

If you work in the private sector, you should consider investing as early as possible. Suppose you start investing Rs 4,000 every month in NPS at the age of 26 and continue investing till the age of 60, you will get more than Rs 35,000 as monthly pension. This is added by keeping the interest rate at 11 per cent.

About 2 crores back

If you start investing in this scheme from the age of 26, then your total investment will be Rs 16,32,000 when you reach the age of 60 years. At this point of time, your total corpus will be Rs.1,77,84,886. You will be surprised to know that you have invested only Rs.16,32,000 but you are getting back almost Rs.2 crores.

Your life will be happy after retirement

If you invest money in this scheme, then the lump sum return you will get will be Rs 1,06,70,932, while you will get around Rs 35,570 as monthly pension. So, you can see that not only will you be getting a pension of around Rs.35,000 per month starting at 61 years of your age, but you will also be getting a lump sum payment of more than Rs.1 crore. You will get so much money that your life will be happy after retirement.

The post NPS New Pension Plan: Get a pension of Rs 35,000 by investing Rs 4000 a month, you will get one crore first appeared on Rightsofemployees.com.

According to Section 80C of Income Tax, a PPF account holder can get this tax exemption. However, a maximum exemption of Rs 1.50 lakh will be available annually on a financial year. PPF is among some of the lowest risk schemes offering better returns to the investors.

Government pays 7.1 percent interest on PPF

The government is giving a return of 7.1 per cent on PPF. The interest rate of PPF is subject to change every quarter as per the instructions of the government. That is, after every three months, the government decides the interest received on the savings scheme scheme. If we look at its past trend, then the interest rates on PPF are going to remain at 7.1 per cent or above.

This is how you can become a millionaire

At the age of 25, if you start investing Rs 5000 every month in PPF, then your annual investment will be Rs 60,000. You will earn an interest of Rs 7,27,284 in 15 years at 7.1% interest rate. Your total investment in 15 years will be Rs 9,00,000. Maturity of 15 years means when you will be 40 years old then you will get Rs 16,27,284.

This is how PPF can make a millionaire

However, if you maintain this investment of Rs 5,000 per month for 37 years, you will get a return of Rs 83,27,232 on a total investment of Rs 22,20,000. You will get Rs 1,05,47,232 on maturity. As mentioned earlier, the maximum maturity period of PPF is 15 years. If you want to extend it up to 37 years, you need to fill Form 16-H, Renewal Form at the end of 15th, 20th, 25th, 30th year. Your PPF account will be renewed after this.

Many benefits are available on PPF

The government decides the rate of interest on PPF. Up to Rs 1.5 lakh can be invested in this scheme. Investors investing in PPF get tax benefits in three ways. Apart from the benefit of tax deduction on the money invested in PPF, there is no tax on the interest and maturity amount.

The post PPF: PPF account can give you 1 crore, just 5000 rupees every month will have to be deposited for so many years first appeared on Rightsofemployees.com.

The Public Provident Fund of the Post Office gives you a chance to become a millionaire. For this you just have to invest Rs 417 everyday. Although the maturity period of this account is 15 years, but you can extend it twice for 5-5 years. Along with this, you also get tax benefit in this plan. At the same time, the most important thing is that you get 7.1 percent interest annually in this plan and which also gives you the benefit of compound interest every year. Let us also tell you how this scheme can make you a millionaire.

Know Post Office PPF Account Details

If you invest for 15 years i.e. till maturity and deposit a maximum of Rs 1.5 lakh annually i.e. Rs 12500 in a month and Rs 417 in a day, then your total investment will become 22.50 lakhs. At the time of maturity, you will also get the benefit of compounding with an annual interest of 7.1 percent. In this, at the time of maturity, you will get Rs 18.18 lakh as interest. That is, you will get a total of 40.68 lakh rupees.

How will you become a millionaire?

On the other hand, if you want to become a millionaire from this scheme, then you can extend your investment by this scheme twice for 5-5 times after 15 years. By investing Rs 1.5 lakh annually, your total investment will be Rs 37.50 lakh. After maturity, you will get Rs 65.58 lakh with 7.1 percent interest rate. That is, after 25 years your total fund will be 1.03 crores.

Who can open PPF account 

Any resident including salaried, self-employed, pensioners etc. can open an account in the PPF of the post office. 
Only one person can open this account.
You cannot open a joint account in this. 
Minor PPF account can be opened in the post office by the parent/guardian on behalf of the minor child. 
Non-resident Indians cannot open an account in it. If a resident Indian becomes an NRI before the maturity of the PPF account, he can continue to operate the account till maturity. 

Required documents of post office PPF account 

Identity Proof – Voter ID, Passport, Driving License, Aadhar Card
Address Proof – Voter ID, Passport, Driving License, Aadhar Card
PAN Card
Passport Size Photograph
Enrollment Form – Form E

Features of Post Office PPF Account

1. The maximum deposit allowed in a PPF account during a financial year is Rs 1.5 lakh.
2. The number of deposits in Post Office PPF is limited to 12 per annum.
3. PPF is an EEE investment i.e. the principal amount invested, interest earned and maturity amount are all tax-free.
4. The minimum annual investment required to keep the account active is Rs.500.
5. Interest on Post Office PPF account is compounded annually and paid on 31st March every year.

The post Post Office Bumper Plan: Just deposit Rs 417 in this government scheme, you will get 1 crore on maturity, see details first appeared on Rightsofemployees.com.

Post Office Public Provident Fund (PPF), Sukanya Samriddhi Yojana and Senior Citizen Savings Scheme (SCSS) are some of the schemes where you can get more than 7 per cent returns. At the same time, in another popular scheme Kisan Vikas Patra (KVP), you can take advantage of 6.9 percent compound interest annually. Here we will tell what is special in the Kisan Vikas Patra (KVP) scheme.

Kisan Vikas Patra (KVP)

Kisan Viaks Patra (KVP) is an interesting scheme. This scheme can double your deposit amount in 10 years and 4 months (124 months) at the prevailing interest rate. If you start a KVP deposit of Rs 1 lakh today, it will increase to Rs 2 lakh in the next 124 months.

The current interest rate of 6.9% on KVP deposits is higher than that of many bank fixed deposits. Let us have a look at some of the key features of this small savings scheme-

• Minimum and Maximum Deposit: You can deposit a minimum of Rs 1000 in KVP and then in multiples of Rs 100. There is no maximum limit for investment under this scheme. You can open any number of KVP accounts.
• Maturity: The amount deposited under KVP matures as per the period prescribed by the Ministry of Finance from time to time. Currently, if you deposit today, it will mature after 124 months. However, premature withdrawal is allowed in special circumstances.
• Transfer : In case of death of the account holder, the KVP account for the nominee/legal heir can be transferred from person to person- to the joint holder on the death of the account holder; On the orders of the Court and mortgage of the account to the Specified Authority.

Should I invest in Small Savings Scheme?

Small savings schemes like KVP offered by the post office offer guaranteed returns to investors who cannot afford to lose their hard earned money. Apart from this, many post office schemes like PPF, SSY and SCSS offer higher interest rates and tax benefits as compared to term deposits of banks.

However, if you are not afraid of taking risks, you can invest in market-oriented schemes like mutual funds and stocks. Here you can get higher returns and double the money faster than in the post office scheme. But before investing in mutual funds or stocks, you should do thorough research and consult a professional financial advisor.

The post Post Office New Plan: Doubling money with post office scheme Rs 1,00,000 to Rs 2,00,000 in 124 months , know here complete details first appeared on Rightsofemployees.com.

New Delhi. One always wants to invest his deposited capital in such a place, in which his money is safe and at the same time he can get a certain return. But sometimes investing in the wrong place creates problems instead of profit. In such a situation, it becomes very important that you invest in the right place. Today we are telling you about some such schemes where you should consider investing. With these schemes, you start getting monthly income after a certain period of time. We are telling you about SBI’s annuity plan.

The country’s largest bank State Bank of India (SBI) is one of the safest options. SBI gives its customers the option of saving from Fixed Deposit (FD) to Public Provident Fund (PPF). You can earn money every month by investing in some schemes of the bank. So let’s know about these savings schemes…

SBI’s Annuity Scheme
: This scheme of SBI can be invested for a period of 36, 60, 84 or 120 months. The interest rate on investment in this will be the same as for term deposits for the chosen tenure. Suppose if you deposit funds for five years, then you will get interest at the same rate of interest applicable to fixed deposit for five years. Everyone can take advantage of this scheme.

A minimum of Rs 1000 can be deposited for monthly annuity in SBI’s annuity scheme. There is no limit on the maximum investment in this. In annuity payment, interest starts accruing after a certain period of time on the amount deposited by the customer. These plans are very good for the future.

Recurring Deposit (RD) Schemes
Generally middle class people secure their future by investing in RDs. In RD, a fixed amount is deposited every month through small savings and a fixed amount is received along with interest on maturity. Recurring deposit is very much liked among common people.

The post Good News! SBI is giving every month earning opportunity, deposit only once and earn monthly first appeared on Rightsofemployees.com.

Post Office Scheme, how to earn money: If you know how to invest money properly, then there are many such schemes which can make you rich. One such scheme is the Public Provident Fund (PPF) scheme of the post office. This scheme of Post Office is very helpful in making big corpus in the long term.

Safest investment
The specialty of this scheme is that your investment in it is completely safe. It is not affected by market fluctuations. These interest rates are fixed by the government, which is reviewed on a quarterly basis. The post office is currently getting 7.1 percent annual interest on the PPF scheme.

Account can be opened in bank branch
You can open Public Provident Fund (PPF) account at the post office or bank branch. This account can be opened with just Rs 500. In this, up to Rs 1.50 lakh can be deposited annually. The maturity of this account is 15 years. But, after maturity, there is a facility to extend it further in the bracket of 5-5 years.

Will make crorepati by investing Rs 12,500 every month

The post Post office superhit scheme: Big news! Deposit Rs 12,000 every month, Get a Rs 1 crore profit, know here complete details first appeared on Rightsofemployees.com.

Although it is helpful in preparing a better fund in the future for the employed, but you can also start it in the name of your child. After the child becomes an adult, he can operate the account under PPF. Through this scheme, the child can get a good fund when the child becomes an adult, so that the goals like higher education can be easily fulfilled.

Income tax benefit is also available in PPF account under section 80C. In this, you can take advantage of tax exemption on investment up to 1.5 lakh annually. The interest received in this scheme and the amount received on maturity are tax free. There is also the facility of loan and partial withdrawal against the account opened in the name of the child.

Scheme can be extended even after maturity

The maturity of PPF account is 15 years. But it can be extended for further 5-5 years with prior notice. You can invest a minimum of Rs 500 and a maximum of Rs 1.50 lakh annually in this account. However, if there is an account in the name of any of the parents other than the child, then the maximum amount will be 1.5 lakhs annually.

PPF: Return Calculator

Maximum Monthly Deposit: Rs 12,500
Maximum Annual Deposit: Rs 1,50,000
Interest Rates: 7.1 percent per annum Compounding
After 15 years Amount on Maturity: Rs 40,68,209
Total Investment: Rs
22,50,000 Interest Benefit: Rs 18,18,209

If the scheme is extended by 5 years

Maximum Monthly Deposit: Rs 12,500
Maximum Annual Deposit: Rs 1,50,000
Interest Rates: 7.1 per cent Compounding
p.a. Amount on Maturity after 20 years: Rs 66.58 lakh
Total Investment: 30 lakh
Interest Benefit: Rs 36.58 lakh

If the scheme is extended by 10 years

Maximum Monthly Deposit: Rs 12,500
Maximum Annual Deposit: Rs 1,50,000
Interest Rates: 7.1 per cent Compounding p.a.
Amount on Maturity after 25 years: Rs 1.03 crore
Total Investment: 37.50 lakh
Interest Benefit: Rs 65.58 lakh

The post Govt New Scheme: Start this government scheme in the name of son or daughter, after 25 years you will get 1 crore guaranteed first appeared on Rightsofemployees.com.

PPF is one of the best savings instruments in India with low risk and better interest rate. People working in the informal sector or unorganized sector as well as unemployed, self-employed people can invest in PPF.

can invest so much

Similarly, taxpayers can claim tax deduction of up to Rs 1,50,000 annually by investing in PPF. At least Rs 500 has to be invested in this in a year. At the same time, investment of more than Rs 1,50,000 cannot be done in it. The returns offered by PPF accounts are fixed and backed by Sovereign Guarantee. Currently the interest rate is 7.1 percent.

recover like this

However, one of the most common problems that PPF account holders often face is expiring accounts. There are many situations where customers have come to know that their PPF account has expired. However, it can be easily restarted through an application form.

Under these circumstances the account may expire.

If a PPF account holder fails to contribute the minimum amount in the financial year, which is from 1st April to 31st March, the account is closed. Along with this the account holder loses the option of withdrawal facility. Also, in such circumstances, the account holder cannot take a loan against his PPF money.

The post PPF Account Expired? Do this work quickly, the account will be recovered first appeared on Rightsofemployees.com.

Post Office Public Provident Fund (PPF), Sukanya Samriddhi Yojana and Senior Citizen Savings Scheme (SCSS) are some of the schemes where you can get more than 7 per cent returns. At the same time, in another popular scheme Kisan Vikas Patra (KVP), you can take advantage of 6.9 percent compound interest annually. Here we will tell what is special in the Kisan Vikas Patra (KVP) scheme.

Kisan Vikas Patra (KVP)

KVP is an interesting scheme. This scheme can double your deposit amount in 10 years and 4 months (124 months) at the prevailing interest rate. If you start a KVP deposit of Rs 1 lakh today, it will increase to Rs 2 lakh in the next 124 months.

The current interest rate of 6.9% on KVP deposits is higher than that of many bank fixed deposits. Let us have a look at some of the key features of this small savings scheme-

• Minimum and Maximum Deposit: You can deposit a minimum of Rs 1000 in KVP and then in multiples of Rs 100. There is no maximum limit for investment under this scheme. You can open any number of KVP accounts.
• Maturity: The amount deposited under KVP matures as per the period prescribed by the Ministry of Finance from time to time. Currently, if you deposit today, it will mature after 124 months. However, premature withdrawal is allowed in special circumstances.
• Transfer : In case of death of the account holder, the KVP account for the nominee/legal heir can be transferred from person to person- to the joint holder on the death of the account holder; On the orders of the Court and mortgage of the account to the Specified Authority.

Should I invest in Small Savings Scheme?

Small savings schemes like KVP offered by the post office offer guaranteed returns to investors who cannot afford to lose their hard earned money. Apart from this, many post office schemes like PPF, SSY and SCSS offer higher interest rates and tax benefits as compared to term deposits of banks.

However, if you are not afraid of taking risks, you can invest in market-oriented schemes like mutual funds and stocks. Here you can get higher returns and double the money faster than in the post office scheme. But before investing in mutual funds or stocks, you should do thorough research and consult a professional financial advisor.

The post Post Office New Plan: Doubling money with post office scheme Rs 1,00,000 to Rs 2,00,000 in 124 months , know here complete details first appeared on Rightsofemployees.com.

Why can the rate increase?

The benchmark 10-year bond yield has remained above 7 per cent. This increase is continuing from April 2022 onwards. The average bond yield from June to August 2022 has been seen at 7.31%. On this basis, if you apply the formula for calculation of interest of the Ministry of Finance, then the rate of PPF can go up to 7.56 percent in the next quarter. This includes the three-month average yield of G-Secs, along with an increase of 25 basis points. Currently, 7.1 percent interest is being available on PPF.

On this basis, the interest of Sukanya Samriddhi Yojana can go up to 8.3 percent, which is currently 7.6 percent. This includes the three-month average live yield plus the rate of 75 basis points. The rates of these schemes are to be reviewed at the end of this month. Therefore, it is expected that interest rates may increase depending on the bond yield. One thing has to be kept in mind that the government does not always increase the interest rates according to the increase in the bond yield.

When were the rates increased before

The increase in interest rates of small savings schemes was seen in April-June 2020. There has been no change in interest rates since then till September 2022. However, bond yields have seen a steady rise in recent months. This has given hope that it is possible to increase the rates of small savings scheme in future.

How is interest calculated?

The returns of the Small Savings Scheme are calculated on the basis of G-Sec i.e. the yield of the government security. Yield and small savings scheme should have the same maturity. On the basis of G-Sec yield, the Finance Ministry reviews the rates of small savings schemes every quarter. In this, the return of G-Sec Yield is seen for the previous quarter. The Shamamala Gopinath Committee, 2011 was constituted for the calculation of interest, which gave the formula for calculation of interest. The committee had suggested reviewing the rate once a year, but the government implemented it every quarter.

The post PPF, Sukanya Samriddhi interest rate will increase in October? Hope raised due to increase in government earnings first appeared on Rightsofemployees.com.