Sukanya Samriddhi Yojana was started by PM Modi in the year 2015. PM Modi had decided to start this scheme keeping in mind the future of daughters, so that parents can be encouraged to start saving for their daughters from an early age.

Only one Sukanya Samriddhi account can be opened in the name of a daughter. In this scheme, the account can be opened with just Rs 250. The government gives more than 8% interest in this scheme. This account can be opened at the time of birth of the daughter or till the age of 10 years.

If you want to open an account in Sukanya Samriddhi Yojana, you can go to the post office near your home or the office of the bank registered under this scheme. A minimum amount of Rs 250 and a maximum of Rs 1.5 lakh can be deposited in this account in a financial year. The account can be operated only by the guardian until the daughter becomes an adult.

Under the new rule, if the account is not operated by the legal guardian of the daughters in Sukanya Samriddhi Yojana, then this account can be closed. Under this, this change was also made, earlier this account could be closed on the death of the daughter or change of address of the daughter. But now the life-threatening disease of the account holder has also been included in it.

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Small Saving Schemes Interest Rate: If you also invest in Small Saving Schemes run by the government, then this news is useful for you. The government announced on Thursday that there will be no change in the interest rates on various small savings schemes from the new financial year i.e. 1 April 2024.

In the notification issued by the Finance Ministry, it was said that the rates will remain the same for the first quarter of the new financial year starting from April 1, 2024 and ending on June 30, 2024.

Notification will come into effect after three days

The interest rates in the first quarter of the new financial year will remain the same as they were for the fourth quarter of the financial year 2023-24 (1 January 2024 to 31 March 2024). According to the notification issued by the Finance Ministry, an interest rate of 8.2 percent will be available on the amount deposited under Sukanya Samriddhi Scheme . It will remain the same as before. Apart from this, the interest rate on three-year FD will remain at 7.1 percent as before.

Investment will mature in 115 months.
Apart from this, the interest rates for PPF and Post Office Saving Scheme, favorite of crores of investors, will also remain the same as before at 7.1 percent and 4 percent respectively. The interest rate on Kisan Vikas Patra has also been maintained at 7.5 percent.

Investment in this government scheme will mature in 115 months. Apart from this, the interest rate on National Savings Certificate (NSC) for the April-June 2024 quarter will remain the same at 7.7 percent.

Like the current quarter, investors will get the benefit of 7.4 percent interest rate on Monthly Income Scheme. The interest rate on small savings schemes is notified by the government every quarter on the basis of review. These schemes are mainly operated by the post office.

Bank Holiday Cancelled: Big News! Banks will remain open even on Saturday-Sunday, stock market will remain closed for so many days

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​Interest payable, Rates, Periodicity etc.

Rate of interest 8.2​​​% Per Annum(with effect from 01-01-2024 ),calculated on yearly basis Yearly compounded.

Minimum Amount for opening of account and maximum balance that can be retained

Minimum INR. 25​0/-and Maximum INR. 1,50,000/- in a financial year. Subsequent deposit in multiple of INR 50/- Deposits can be made in lump-sum No limit on number of deposits either in a month or in a Financial year

(a) Who can open account:-

> By the guardian in the name of girl child below the age of 10 years.
> Only one account can be opened in India either in Post Office or in any bank in the name of a girl child.
> This account can be opened for maximum of two girls in a family. Provided in case of twins/triplets girls birth more than two accounts can be opened.

​(b) Deposits:-

(i) Account can be opened with minimum initial deposit Rs. 250.

(ii) Minimum deposit in a FY is Rs. 250 and maximum deposit can be made up to Rs. 1.50 lakh (in multiple of Rs.50) in a FY in lumpsum or in multiple installments.

(iii) Deposit can be made maximum up to completion of 15 years from the date of opening.

(iv) If minimum deposit Rs. 250 is not deposited in a account in a FY , the account shall be treated at defaulted account.

(v) Defaulted account can be revived before completion of 15 years from the date of opening of account by paying minimum Rs. 250 + Rs. 50 default for each defaulted year.

(vi) Deposits qualify for deduction under section 80C of Income Tax Act.

(c) Interest:-

(i) The account will earn on the prescribed rate notified by Ministry of Finance on quarterly basis.

(ii) The interest shall be calculated for the calendar month on the lowest balance in the account between the close of the fifth day and the end of the month.(iii) Interest shall be credited to the account at the end of each Financial year.

(iii) Interest shall be credited to the account at the end of each FY where account stands at the end of FY. (i.e. in case of transfer of account from Bank to PO or vice versa)
(iv) Interest earned is tax free under Income Tax Act.

(d) Operation of Account:-

-> Account will be operated by the guardian till the girl child attains the age of majority (i.e. 18 years).

​(e) Withdrawal:-

(i) Withdrawal may be taken from account after girl child attains age of 18 or passed 10th standard.

(ii) withdrawal may be taken up to 50% of balance available at the end of preceding F.Y.

(iii) withdrawal may be made in one lump sum or in installments, not exceeding one per year, for a maximum of five years, subject to the ceiling specified and subject to actual requirement of fee/other charges.

(f) Premature closure:-

(i) Account may be prematurely closed after 5 years of account opening on the following conditions : –
> On the death of account holder. (from date of death to date of payment PO Savings Account interest rate will be applicable).

> On extreme compassionate grounds

(i) Life threatening decease of a/c holder.

(ii) Death of the guardian by whom account operated.

(iii) Complete documentation and application required for such closure.

(vi) For premature closure of account submit prescribed application form along with pass book at concerned Post Office.

​(g) Closure on maturity:-

(i) After 21 years from the date of account opening.

(ii) Or at the time of marriage of girl child after attaining age of 18years.(but no closure is

allowed before 1 month or after 3 months from the date of marraige).

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Start with less than Rs 500

You can invest Rs 500 in the beginning and if it feels right later, you can increase your invested amount. Let us tell you about the post office scheme, where you can start with less than Rs 500.

Invest money in PPF

You can open an account in Public Provident Fund. In this scheme, you can invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh annually. You can make this investment for 15 years. If you invest Rs 500, you will deposit Rs 6000 annually.

Added 4,12,321 to PPF

At present interest is being given on PPF at the rate of 7.1 percent. In such a situation, by depositing Rs 500 every month in this scheme, you can add Rs 1,62,728 in 15 years at 7.1 percent interest. If you extend it for 5.5 years, you can add Rs 2,66,332 in 20 years and Rs 4,12,321 in 25 years.

Invest in Sukanya Samriddhi with Rs 250

You can open Sukanya Samriddhi account in the name of your daughter. In this you can invest minimum Rs 250 and maximum Rs 1.5 lakh.

2,77,103 will be available in SSY

At present, interest is being given on it at the rate of 8.2 percent. If you invest even Rs 500 per month in this, you will have to deposit a total of Rs 90,000 in 15 years and at 8.2 percent interest, you will get Rs 2,77,103 after 21 years.

Post Office RD

You can also get RD done in the post office. You can start with Rs 100 also. At present the interest rate in this scheme is 6.7%. If you deposit Rs 500 every month in this scheme, then after 5 years you will get Rs 35,681.

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Many schemes are being run by the government for the bright future of girls. One of these is Sukanya Samriddhi Yojana. It works to make the future of girls bright.

The government bears the expenses of daughters’ education and marriage under this scheme. This scheme has been started under the Beti Bachao-Beti Padhao campaign. You can open Sukanya account for just Rs 250.

In this, you can open Sukanya Account from the birth of your daughter till the age of 10 years. You can invest as low as Rs 250 to Rs 1.50 lakh in 1 financial year.

The government gives compound interest in this scheme. When the daughter turns 18 years of age, you can withdraw 50 percent of the amount. This scheme matures in 21 years. Apart from this, the benefit of tax benefit is also available in this scheme.

Complete this work before 31st March

If you also take advantage of this scheme, then let us tell you that you should invest at least Rs 250 in this scheme in 1 financial year. If you do not do this then your Sukanya account will be frozen.

However, to reopen Sukanya account, you will have to pay a penalty of Rs 50 per annum along with the investment amount.

How to open Sukanya account

• You have to download the application form of Sukanya Samriddhi Yojana from the post office or bank website.
• After this, you have to attach your daughter’s photo, birth certificate, ID-proof of parents and other documents in the form.
• Now submit this form and documents to the nearest bank or post office.
• After this the form and original documents will be checked.
• Now an account will be opened in the name of your child, after which you can invest in it.

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Sukanya Samriddhi Yojana: The government has launched Sukanya Samriddhi Yojana for women empowerment along with promoting investment. In this scheme, investors invest for their daughter’s future.

Let us tell you that in this scheme, interest is given by the government on the investment amount. Apart from this, the benefit of tax benefit is also available on it. After the scheme matures, the investor can use the scheme amount for the daughter’s education or marriage.

Investment in this scheme has to be made for 15 years and it matures in 21 years.

If you also want to take advantage of this scheme, then you can open an account in both online and offline mode. Let us know about the registration process of this scheme.

How to apply offline

• To avail the benefits of Sukanya Samriddhi Yojana, you will have to go to your nearest post office or bank.
• You will have to fill a form for the scheme.
• After entering the correct information in the form, you have to submit it after attaching the documents.
• After the form is submitted, the bank or post office will give you the information about Sukanya account.

How to open Sukanya account online

• You have to go to the official website of RBI, Indian Post or Bank.
• Here you have to download the application form of Sukanya Samriddhi Yojana.
• Now fill all the necessary information in the form.
• After this, scan the form and upload it.
• After uploading the form you will have to upload the documents.
• After this, if the form is successfully submitted, you will get all the information on mail or mobile number.

The post Sukanya Samriddhi Yojana: In this scheme, daughters will get the benefit of tax exemption along with a bright future, know what is the registration process. first appeared on Rightsofemployees.com.

This scheme is designed to cover the education and marriage expenses of a girl child. Sukanya Samriddhi Yojana encourages parents to create a large fund for their daughters’ future to cover education and marriage expenses. This account can be opened by the parents or legal guardian of the girl child. This account can be opened for any girl child whose age is less than 10 years.

According to the information available on the official portal of MyScheme, NRIs are not yet covered under Sukanya Samriddhi Yojana. Information about all government schemes is available on MyScheme app.

Eligibility

This account can be opened for the girl child by any one of the parents. However, the age of the girl child should be ten years or less.

• Under this scheme, each account holder will have only one account.
• Under this scheme, accounts can be opened for maximum two girls in a family.
• More than 2 accounts in a family will be opened only if one of the twins or triplets is a girl child.

You can deposit up to Rs 1.5 lakh annually

An account of a daughter up to 10 years of age can be opened in Sukanya Samriddhi Yojana. In this you can deposit a minimum of Rs 250 and a maximum of Rs 1.50 lakh. This scheme will become mature when the daughter turns 21 years of age. However, your investment in this scheme will be locked at least until the daughter turns 18 years old. Even after 18 years, you can withdraw 50 percent of the total money. Which she can use for graduation or further studies. After this, all the money can be withdrawn only when she turns 21 years of age.

The specialty of this scheme is that you do not have to deposit money for full 21 years. Money can be deposited only for 15 years from the time of opening the account. Whereas the daughter will continue to get interest till the age of 21 years. At present the government is giving interest on it at the rate of 7.6 percent per annum.

Where to open an account?

Sukanya Samriddhi Yojana (SSY) account can be opened in any post office or bank. Under the scheme, you can open this account by depositing at least Rs 250 within 10 years of the birth of the girl child. The interest rate in Sukanya Samriddhi Yojana is 7.6 percent per annum. In SSY, interest is available as compared to PPF, FD, NSC, RD, Monthly Income Scheme or Time Deposit.

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There has been no change in the interest rates of Sukanya Samriddhi Yojana included in the small savings scheme. The Finance Ministry has kept the interest rates stable at 8 percent for the October-December quarter. Let us tell you that the government did not increase interest rates even for the July-September quarter.

However, for the first quarter of the new financial year i.e. April June, the interest rates increased from 7.60 percent to 8 percent. All the useful things related to Sukanya Scheme – From birth to 10 years of age, parents or legal guardians can open an account for the girl child under the scheme.

Sukanya Samriddhi Yojana accounts can be opened in post offices and banks. The minimum deposit amount can be Rs 250 annually and the maximum amount can be invested annually in the name of the daughter. Only one Sukanya Samriddhi Yojana account can be opened in the name of the girl child by the parents or legal guardian. If the minimum deposit amount of Rs 250 is not deposited in a financial year, a penalty of Rs 50 per year will be imposed on default.

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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.

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Guidelines have been issued. The post office has talked about the benefits of the customers under this guideline. 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.

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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. 

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Sukanya Samriddhi Yojana: Sukanya Samriddhi Yojana (SSY) is one of the most popular small savings schemes to secure the financial future of the girl child. SSY account can be operated by any one of the parents or legal guardian of the girl child. Interest is paid on a fixed basis on the investments deposited in this account. At the same time, it is a long term investment plan. However, many parents also want to know how much amount their daughter will get on the maturity of this account, so today we are going to talk about it.

Sukanya Samriddhi Yojana Interest Rate
At present the interest rate of SSY Yojana is 7.6%. It is compounded on an annual basis. Interest is not payable on maturity of the scheme or on girl becoming Non-Resident Indian (NRI) or Non-citizen. The rate of interest is decided by the government and determined on a quarterly basis.

Sukanya Samriddhi Yojana Calculator
The investment period in this scheme is 15 years and maturity period is 21 years. On the other hand, how much maturity amount will be there in Sukanya Samriddhi Yojana can be known through Sukanya Samriddhi Yojana Calculator. Sukanya Samriddhi Yojana calculator helps a person to estimate the investment plan under Sukanya Samriddhi Yojana.

The Sukanya Samriddhi Yojana
calculator will use details like investments made every year and the interest rate mentioned by you to evaluate the data and give you the final result in terms of maturity amount. There are many online platforms that provide calculators for Sukanya Samriddhi Yojana and where maturity amount can be calculated online. Maturity amount can be calculated on many platforms by putting Sukanya Samriddhi Yojana Calculator on Google.

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There are many investment options in public and private sector. In these too, the Postal Service Scheme is quite popular among the people. The post office investment scheme comes with a government guarantee. Also, the interest earned on post office schemes is higher than others. Let us know about these schemes.

15 Years PPF Fund Account

A minimum of Rs 500 and a maximum of Rs 1,50,000 can be invested in PPF in a financial year. Right now interest is being received at the rate of 7.1 per cent. Its maturity period is 15 years. However, it can be extended. In this, exemption is available under section 80C.

National Savings Certificates

National Savings Certificate comes with a maturity of 5 years. It is getting interest at the rate of 7 percent and this interest is available at the time of maturity. You can invest in NSC in multiples of Rs 100, 500, 1000, 5000 and 10,000. You can also use NSC to take a loan.

Sukanya Samriddhi

Sukanya Samriddhi Yojana is being run to promote the girl child. The government is paying an interest of 7.6 per cent on this. You can invest in this for a child up to 10 years of age.

Senior Citizen Savings Scheme

The maturity period of the senior citizen’s savings scheme is 5 years. You can invest in it in multiples of Rs 1,000. Can’t invest more than 15 lakhs in this. There is an interest of 8 percent on this. Individuals in the age group of 55 to 60 years can invest in this.

Post Office Monthly Income Scheme Account

The Post Office Monthly Income Scheme account offers an annual interest of 7.1 per cent. In this one has to invest in multiples of 1,500. You can invest a maximum of Rs 4.5 lakh in this. Rs 9 lakh has to be invested in a joint account.

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Through these schemes, works like education and financial help of daughters are also being done. In this episode, Sukanya Samriddhi Yojana is also being run by the government to secure the future of daughters. At the same time, a big announcement has been made by the government regarding the Sukanya Samriddhi Yojana.

Sukanya Samriddhi Yojana

Actually, Sukanya Samriddhi Yojana encourages saving and investing for daughters. Interest is also provided on the money invested through this scheme. For a long time, people were expecting that the interest rate would be increased in Sukanya Samriddhi Yojana. However, this expectation of the people could not be fulfilled at the moment.

No increase in interest rate Actually, interest rates of many savings schemes have been changed by the government. Although the people associated with Sukanya Samriddhi Yojana were expecting that the government would announce an increase in the interest rate in this scheme, but at present, the government has not increased the interest rate on Sukanya Samriddhi Yojana in any way.

This is the interest rate

The government has said that they have kept the interest rate on Sukanya Samriddhi Yojana as stable as before. At present, neither the interest rate has been reduced nor the interest rate has been increased in Sukanya Samriddhi Yojana. At present, interest is given at the rate of 7.6 percent annually in the girl child savings scheme ‘Sukanya Samridhi’.

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After this, it was expected that the government can give good news by increasing the interest rate to those investing in small savings schemes in the quarterly review. But only a few savings schemes have been announced by the government to increase the interest rate. There is no change in the interest rate, let us tell you that the government has decided to increase the interest rates by up to 0.3 percent only on some small savings schemes.

The interest rates are getting stronger in the economy at this time, in view of which the government has taken this step. However, the interest on PPF, the preferred savings scheme among the salaried, has been retained at 7.1 percent. Apart from this, the interest rate on National Savings Certificate (NSC) has also been kept at 6.8 percent.

Apart from this, there has been no change in the interest rate of Sukanya Samriddhi. In the third quarter, the interest rate has been increased by 0.3 percent, on five other schemes on which the income is taxable, the interest rates have been increased by up to 0.3 percent.

After this change, 5.8 percent interest will now be available on the deposit of three years in the post office. Till now this rate was 5.5 percent. In this way, the interest rate will increase by 0.3 percent in the third quarter of the current financial year.

Senior citizens also benefited

The information given by the Ministry of Finance was told that for the quarter of October-December, now an interest of 7.6 percent will be available on the Senior Citizen Saving Scheme. So far it is getting 7.4 percent interest. Both the tenure and interest rate of Kisan Vikas Patra have been revised. Under this, the interest on Kisan Vikas Patra has increased from 6.9 percent to 7.0 percent.

Now it will mature in 123 months instead of 124 months. Now instead of 6.6, 6.7 percent interest will be given on the monthly savings scheme. RBI has increased the key policy rate repo by 1.4 percent since May. Due to this banks are increasing the interest rates on deposits. Interest on ‘recurring’ or subsequent deposits of five years will be 5.8 percent as before.

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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.

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The government is currently paying an interest of 7.6 percent on this, which is higher than many FDs. A good fund can be deposited till maturity by investing in it for daughter’s education or marriage expenses. However, this account can be opened for only 2 girls of a family. But there is also a situation where this account can be opened for 3 daughters.

In what condition will the account of three daughters be opened, if after 1 daughter in a family then 2 twin daughters or after 2 twin daughters there is 1 daughter, then the account can be opened for all the three girls under Sukanya Samriddhi Yojana. Under this scheme, earlier only 2 daughters used to get tax exemption on depositing the amount in the account but now the third daughter has also been included in it.

Higher interest than many other schemes

As we mentioned that in this scheme the government is giving you more returns than many fixed deposits. Similarly, you are getting more returns than many government schemes under Sukanya Samriddhi. You are being given more interest here than PPF, NSC, RD or Monthly Income Scheme. Let us tell you that whatever you invest in it, you will get three times the return on maturity. At present, you can raise a maximum amount of up to Rs 64 lakh through this scheme.

How much can you invest?

You can start this account with a deposit of Rs.250. You can deposit only 1.5 lakh rupees in this scheme in a financial year. Once the account is opened, you have to deposit a minimum of Rs 250 in every financial year, failing which you can be fined Rs 50. It is worth noting that this scheme matures when the girl child turns 21, but you have to invest in it only for 15 years.

This means that if you open this account for a 3-year-old girl, then you have to invest only till the age of 18 years. The interest will automatically accrue over the next 3 years. Keep in mind that the age of the girl child should be less than 10 years to open the account.

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This time the interest is being paid by the government at the rate of 8.1%. However, this interest rate is the lowest in the last 40 years. Despite this, the employees have been waiting for the payment of PF for a long time. Meanwhile, EPFO ​​has given big information. If the account holders want their entire interest amount in the account, then they have to take special care of some things. Otherwise, they may have to face loss in the amount of interest.

In fact, lakhs of employees working in the private sector change their jobs every few months. After joining a new job, employees open new PF accounts in the new company from their old UAN. In such a situation, the money of the new company comes in the account and the amount stops coming in the old PF account. In such a situation, the employees may have to bear the loss of interest amount due to not getting the account done.

In such a situation, EPFO ​​has advised the employees to link all the accounts together. In doing so, interest can be paid on the amount collected in all the accounts. If the amount is more, the interest will also be higher.

PF account can be merged as soon as the UAN number is activated by the employees.

• To merge PF account, visit the official website of EPFO.
• Click on Services to login.
• Click on Apply 1 EPF Account
• a form will open
• Enter registered mobile number
• Enter the OTP number and the old PF account will be displayed as soon as you enter the OTP
• accept submit
• After sending the information, the account will be merged in a few days.

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According to the rules of the Income Tax Department, no tax has to be paid on income up to 2.5 lakhs annually. There is a provision of 5 percent tax on income of 2.5 to five lakh rupees, while 20 percent tax has to be paid on annual income of 5-10 lakh rupees. At the same time, there is a 30 percent tax slab on annual income of 10 lakhs and above. If your income is Rs 10 lakh then you do not have to pay tax even a single rupee. Today we will tell you about such a way, by which you can save the entire amount of tax by taking advantage of investment and income tax exemption. For this, you have to balance between Savings and Expenses.

Income tax experts explain this through an example, they say that suppose you earn Rs 10 lakh annually, then in this case you get a standard deduction of Rs 50,000. This brings down your taxable income to Rs 9.5 lakh. Then, in addition to this, you can get up to Rs 1.50 lakh rebate by investing in tax saving schemes (life insurance, sukanya samriddhi yojana, children’s fees etc.) under 80C. By doing this your taxable income comes down to Rs 8 lakh.

According to tax experts, to further reduce this, you can take advantage of NPS. Through this, the taxable income can be reduced by another 50 thousand rupees. Apart from this, you can get a discount of 25 thousand rupees through your health insurance and 25 thousand rupees through your parents’ health insurance. With this your taxable income will now be Rs 7 lakh. Then, if you have taken a home loan, you can avail interest deduction of up to Rs 2 lakh through it. Now your taxable income will be Rs 5 lakh.

According to tax experts, on income up to Rs 5 lakh, the government gives a tax exemption of Rs 12,500 under section 87 (A). This will reduce your taxable income to less than Rs 5 lakh and once that happens you will not have to pay any tax. This income is eligible for full exemption under section 87A.

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