Skip to main content

Relaxation of provisions for Account holders of PPF, Sukanya Samriddhi Account (SSA) and RD

The Relaxation of provisions for the account holders of Public Provident Fund (“PPF”), Sukanya Samriddhi Account (“SSA”) and Recurring Deposit (“RD”). The Government has taken the decision to safeguard the interests of small savings depositors in view of the lockdown in the country due to the COVID – 19 Pandemic.  The subscribers of PPF and SSA may now deposit their savings up to June 30, 2020, which couldn’t be deposited in FY 2019-20 due to lockdown in the country.

The revival fees/penalty charges are waived off on the PPF, SSA/ RD accounts in which mandatory minimum deposit is not made up to March 31, 2020 subject to such deposit are made up to June 30, 2020. All those PPF subscribers, whose accounts were matured on March 31, 2020 (including one year window for extension), can now be extended up to June 30, 2020.


              complete details are available here

Comments

Post a Comment

Popular posts from this blog

Northeast Industrial and Investment Policy

Northeast Industrial and Investment Policy With a view to give a further boost to industrialization in the North Eastern Region, the erstwhile North East Industrial Policy (NEIP), 1997 was revised and a new policy, namely North East Industrial & Investment Promotion Policy (NEIIPP) 2007, was notified w.e.f. 1.4.2007 which will remain in force upto 31.03.2017. Benefits under NEIIPP, 2007 have also been extended, for the first time, to select Service Sector units, Bio-technology units and Power Generating units (up to 10 MW), besides industries in the manufacturing Sector. NEIIPP, 2007 covers the entire North East Region comprising States of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim. NEIIPP, 2007 is applicable to all  industrial  units in manufacturing Sectors, select service sector, Biotechnology and Power Generating units (up to 10 MW) (barring the units producing tobacco and manufactured tobacco substit...
Post a Comment
Read more

Card user's at risk????

Here's a warning for debit and credit card users in India. Data of 1.3 million credit/debit card users is up for sale on a dark-net website called Joker's Stash. The Reserve Bank of India (RBI) too has taken notice of the theft and has reportedly sent advisory to banks across the country. Here's all you need to know about this and why you may need to go for a new card: The hack has been discovered by Group-IB, a Singapore-based company that specialises in detection and prevention of cyberattacks. Of the 1.3 million cards whose data is available for sale, 98% are believed to be from India. Group-IB has not shared the names of the banks whose credit/debit cards have been compromised. 5.5 lakh cards analyzed are said to be of a single Indian bank Though Group-IB did not reveal the source of the breach, hackers most likely acquired the card details through skimming devices, which were secretly planted on ATMs or PoS systems. In a letter s...
Post a Comment
Read more

Employees Provident Fund (EPF) Account holder don't forget to get this certificate

Although many subscribers of the Employees' Provident Fund Organisation (EPFO) are not aware of this but they could be eligible for pension at the time of retirement but for that you need to get a Scheme Certificate at the right time. Under the Employees' Pension Scheme, there are around 3.3 lakh pensioners. Your employer contributes 8.33% of your basic salary and dearness allowance (DA) to employees' pension scheme (EPS), as part of EPFO contribution. There is, however, a maximum cap of  ₹ 1,250. The amount of pension you receive is calculated by multiplying pensionable salary (average of last 60 months) with pensionable service and the dividing it by 70. The minimum pension that you get under the scheme is  ₹ 1,000. You are eligible for pension on superannuation at the age of 58 years. If you quit your job between 50 and 57 years you can avail an early but reduced pension. If you continue to work and contribute to EPF even after 58 years, you can avail pension...
Post a Comment
Read more