PPF Order: The Central Government has made it mandatory for Public Provident Fund (PPF) account holders to link Aadhaar with the account. Deadline has also been issued for this.
To prevent increasing online fraud and protect account holders, the Central Government has made it mandatory for Public Provident Fund (PPF) account holders to link Aadhaar with the account. The Finance Ministry had also issued a circular in this regard on March 31, 2023. In such a situation, account holders can know about Aadhaar and its process here. Apart from this, in case of not having Aadhaar link, they may have to face a lot of trouble.
Public Provident Fund (PPF) investment scheme is one of the most popular government schemes offering high interest. A maximum of Rs 1.5 lakh can be deposited annually in this scheme with an investment limit of 15 years. Interest at the rate of 7.1 percent 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 for PPF account holders to link with Aadhaar.
The Finance Ministry has made linking Aadhaar mandatory for investors of all types of small savings schemes and post office schemes. According to the ministry, if the PPF investor has opened the account before March 31, 2023 and has not submitted his Aadhaar number in the account office, he will have to submit Aadhaar within a period of six months from April 1, 2023. . The six-month period will end on September 30, 2023. Investors can also submit PAN along with Aadhaar.
What if PPF account is not linked with Aadhaar?
- According to the instructions of the Finance Ministry, if the Aadhaar number is not submitted in the post office where the PPF account has been 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 account of the PPF account holder.
- Investors will not be able to deposit money in their PPF accounts.
- The maturity amount will not be transferred to the bank account specified by the investor.
