Many Public Provident Fund National Pension Account and Sukanya Samriddhi Account have become inactive on 1 April 2024. Actually, the accounts of all the users who have not deposited the minimum amount in these accounts in the last financial year have been frozen. Let us know what is the minimum deposit in these accounts and how to reactivate the inactive account. read full news..
New Delhi. The new financial year 2024-25 has started from today. In the beginning of this financial year itself, the accounts of many PPF Account, NPS Account, Sukanya Account holders have been frozen.
This means that from today the benefits available on their account have stopped. Now in such a situation, a question arises in the minds of many people that why has their account become inactive and what is the process to reactivate the account. Today we will answer all these questions.
Why did the account become inactive?
According to the rules, if all these scheme holders do not deposit the minimum balance in their account in a financial year, then their account will become inactive.
This means that the accounts of users who have deposited the minimum amount in the last financial year have not become inactive. On the contrary, the accounts of users who have not deposited the minimum amount in their account have been frozen.
Let us tell you that if the account gets frozen then all the benefits available in the scheme also stop. That means, if tax benefit is available in the scheme, that too will stop after the account becomes inactive.
What is the minimum amount?
- Investors can invest a maximum of Rs 1.5 lakh in a year in Sukanya Samriddhi Yojana. At the same time, they have to invest minimum Rs 250.
- An investor has to invest a minimum of Rs 500 in the NPS (National Pension System) account. There is no limit on maximum investment in this scheme.
- Even in PPF (Public Provident Fund) account, the investor has to invest a minimum of Rs 500. In this, not more than Rs 1.5 lakh can be invested in a financial year.
How to activate account
If your PPF, NPS or Sukanya account has become inactive, then to reactivate it you will have to pay a minimum amount plus penalty. In these schemes, there is a penalty of Rs 50 per year for not depositing the minimum amount.
For example, if a person’s NPS account has been closed for 2 years, then to reopen the account, he will have to pay a penalty of Rs 50 per year and a minimum amount of Rs 100 i.e. Rs 1,000.
This means that the user will have to pay Rs 1,100 to reactivate the account.
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