If you have a PPF account or Recurring Deposit in the post office, you have to do some urgent work before March 31, 2021. There are only a few days left for the financial year 2021 to end. In such a situation, it is important that you take stock of your financial work which needs to be completed before the last date. If you are not able to do these works before the due date, then you may have to pay a fine. Let us know what work they are required to do by 31 March which if not done, they may have to pay a penalty.
When you invest in a scheme, a minimum amount has to be deposited at least once in a financial year. If you do not do this, your account becomes inactive. To get an active account again, a penalty has to be paid along with the minimum amount.
PPF account
To keep the account active, it is necessary to invest at least 500 rupees in a PPF (Public Provident Fund) account every financial year. If you have not deposited the minimum account, then your account will become inactive. A penalty of 50 rupees will be imposed every year as long as the account defaults. After paying the fine and depositing the required minimum amount, the account will be activated.
Post Office RD Account
In the case of Post Office Recurring Deposit (RD), monthly contributions have to be deposited before the 15th day of the month, which are opened between the first and 15th day of the month and the amount in the account opened on the 16th day and later on the last day of the month. Should be deposited till If the amount is not deposited in a month, it defaults. In case of default, the default is required to deposit 100 rupees every month and at least four can default. So, if you have not deposited your RD installment for the month of March then do it now.
Sukanya Samriddhi Account
If you have opened a Sukanya Samriddhi Account in the post office in the daughter’s name, then by March 31, deposit at least 250 rupees in it. To keep the Sukanya Samriddhi account running, it is necessary to deposit at least 250 rupees every year. If you do not deposit the minimum amount in any year, then the account will be considered as a default account. To restart the account, you will have to pay a minimum penalty of Rs 250 plus 50 rupees.
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