Small Savings Schemes: Let us tell you that the government has changed the rules of Sukanya Samriddhi-PPF. If you have also invested in this and do not have PAN and Aadhar card, then get it done soon.
New Delhi: The government has changed the rules for those investing in Public Provident Fund (PPF), Senior Citizen Saving Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), Mahila Samman Yojana and Post Office.
Now those investing in these schemes are required to have PAN and Aadhaar card. This change has come into effect from April 1, 2023. If you have also invested in these government savings schemes and you do not have PAN or Aadhar card, then you should get it made as soon as possible.
Changes made to make it transparent
If you do not do this, you will not be allowed to invest in these schemes. This change has been made by the government with the aim of making investment in these schemes more transparent and easier.
This change has also been made to protect the rights of investors in these schemes. Recently, the Finance Ministry issued a notice saying that Aadhaar and PAN will be mandatory for investing in small savings schemes issued by the government. Earlier, investment in these schemes could be made even without Aadhaar number.
It is necessary to show PAN card to invest
The notice states that investors will have to submit Aadhaar number before making any kind of investment. Also, to invest more than a limit, PAN card will have to be shown. This change has been made to make investment in government run schemes more transparent and easier.
If you do not have Aadhar card then you will have to submit Aadhar number within six months after opening the account. If you are investing more than a certain limit, you will also have to submit PAN card.
You will need these documents to open a Small Savings Scheme account-
- Passport size photo
- Aadhaar number or Aadhaar enrollment slip
