Sukanya Samriddhi: If you have also opened an account under Sukanya Samriddhi and PFF, then you must read this article. Because a new rule has been implemented for Sukanya Samriddhi and PPF. If you don’t follow these rules, your account will be closed.
According to the new rule, those who have accounts in Sukanya Samriddhi and BF will need to maintain a minimum balance. If they don’t, their account will be deactivated. So let’s see what the rules are.
The rules for the PFF
As per the rules, those who have a Public Provident Fund (PFF) account will have to deposit a minimum balance of ₹500. This means that they have to invest at least ₹500 in a financial year. If the account holders do not do this, their balance will become inactive. The last date to deposit the minimum balance is March 31.
If the minimum balance is not deposited by this date, the account holder’s account will be inactive. They will have to pay a penalty to reactivate this account. The penalty is ₹50 per year. For example, if an account holder’s account has been inactive for 2 years, then he will have to pay a penalty of ₹100 along with the minimum balance which has been fixed at Rs 500 to reactivate it.
Sukanya Samriddhi Yojana SSY
If you open an account under Sukanya Samriddhi Yojana, then your minimum balance should be Rs 250. That is, in a financial year, you have to deposit a balance of Rs 250. If you don’t do this, your account will be deactivated.
Account holders will have to pay a penalty of ₹50 per year for reactivating the account. If the account of any account stream becomes inactive, then they will not be able to take any benefit related to this scheme.