According to the circular, 6 new rules have been issued. These rules are for investors associated with National Savings Scheme, Public Provident Fund i.e. PPF and Sukanya Samriddhi Account. Let us know about the new rules of Sukanya Samriddhi Account.

Sukanya Samriddhi Account (SSA)

In case of accounts opened under the guardianship of grandparents (who are other than the legal guardian), the guardianship will be transferred to the person entitled under the applicable law, i.e., natural guardian (surviving parent) or legal guardian.
If more than two accounts are opened in a family in violation of Para 3 of Sukanya Samriddhi Account Scheme, 2019, the irregular accounts will be closed as accounts opened in violation of the scheme guidelines.

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About the scheme

Let us tell you that under the Sukanya Samriddhi Yojana launched for daughters, an interest rate of 8.2 percent is available on deposits. The scheme with this interest rate is completely tax-free under Section 80C. Under this scheme, a minimum investment of Rs 250 can be made in a financial year. At the same time, a maximum investment of Rs 1,50,000 can be made. If a minimum of Rs 250 is not deposited in a financial year, a penalty of Rs 50 will be imposed.

For how long can you invest

Please note that deposits can be made in the account for a period of 14 years from the date of opening the account. The account will mature on completion of 21 years from the date of opening the account, provided that if the account holder gets married before completion of the period of 21 years, then the account will not be allowed to be operated after the date of his marriage. Partial withdrawal facility is available to meet the needs of the account holder for the purpose of higher education and marriage.

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The post Big news for Sukanya Samriddhi investors, government changed the rules, issued circular first appeared on Rightsofemployees.com.

‘Sukanya Samriddhi Yojana (SSY) is also included in the schemes whose interest rate has been increased by the government this time. The interest rate of this famous scheme has been increased from 7.60 percent to 8 percent.

Let us inform that the Narendra Modi government had started the Sukanya Samriddhi Yojana in its first term. Under this scheme, you can open a Sukanya Samriddhi account for a girl child up to 10 years of age. A huge amount can be raised in this account for the future of the daughter. Today we will tell you how through this account we will be able to arrange more than Rs 40 lakh for the daughter.

Let’s say your monthly investment is Rs 12,500. In this way your investment every year will be Rs 1,50,000 lakh. The maturity of Sukanya Samriddhi account is 15 years. If you invest Rs 1,50,000 lakhs per year for 15 years, then your total investment will be Rs 22.50 lakhs. A total interest of Rs 19.98 lakh is generated on this investment at the rate of 8 percent. Thus, the total amount on maturity will be Rs 42.48 lakh. This means that after 15 years, you will get Rs 42.48 lakh, so that you can work for your daughter’s marriage or education etc.

Know some advantages

Under Sukanya, 50% of the maturity amount can be withdrawn under certain circumstances. At the same time, there is a facility to withdraw money even after the age of the girl child is 21 years. At the same time, ₹ 1.50 lakh tax exemption can also be availed under Income Tax Act 80C. Let us tell you that Sukanya’s interest rate changes on a quarterly basis.

The post Sukanya Samridhi Yojana: Deposit just this much amount every month, your daughter will get ₹ 42.48 lakh. first appeared on Rightsofemployees.com.