#ppf account benefits 1000

[businessskibat]

Pension Through PPF Account: हर महीने आपको मिल सकता है ₹60,000 का पेंशन, कोई भी टैक्स नहीं देना पड़ेगा

Pension Through PPF Account : हम आज आपको रिटायरमेंट के बाद हर महीने पेंशन कैसे प्राप्त कर सकते हैं बताएंगे। जी हां, अगर आप आज से निवेश करना शुरू कर देते हैं, तो रिटायरमेंट के बाद आपको हर महीने ₹60,989 पेंशन मिलेगी। इस तरह की पेंशन पाने के लिए आपको पीपीएफ खाते में निवेश करना होगा। इसकी विशिष्टता यह है कि सरकार ने इस स्कीम को टैक्स से छूट दी है। जिससे आपको बहुत अधिक लाभ मिलता है। तो चलिए इसके बारे…

[poonamranius]

PPF Account Benefits : 1 हजार रुपये का निवेश करें और 5 साल बाद पाएं 5.32 लाख

Public Provident Fund Account Benefits : आप पब्लिक प्रोविडेंट फंड खाते (PPF Account Benefits) में निवेश शुरू करना चाहते हैं, तो आप इस साधन के बारे में सभी विवरण जानने के लिए उत्सुक होंगे ! यहां हमने उन सभी सवालों के जवाब एकत्र और प्रस्तुत किए हैं ! जिनका पीपीएफ खाते (PPF Account) में निवेश करने से पहले किसी व्यक्ति को सामना करना पड़ सकता है ! यहां एक बचत योजना है जो आपको केवल 500 रुपये प्रति माह के निवेश के बदले में 15 लाख रुपये तक देगी ! PPF Account Benefits पब्लिक प्रोविडेंट फंड (Public Provident Fund) एक ऐसी योजना है जो गारंटीड रिटर्न सुनिश्चित करती है ! 1968 में राष्ट्रीय बचत संगठन को छोटी बचत को एक लाभदायक निवेश विकल्प बनाने के लिए निर्देशित किया गया था ! यदि कार्यकाल को ठीक से चुना जाता है, तो लंबी अवधि में पीपीएफ (PPF) बहुत अच्छा रिटर्न देगा ! सार्वजनिक भविष्य निधि (Public Provident Fund)  वर्तमान में 7.1 प्रतिशत की ब्याज दर प्रदान करती है !  वर्तमान में पीपीएफ खाते (PPF Account) में हर साल न्यूनतम 500 रुपये और अधिकतम 1.5 लाख रुपये प्रति वर्ष जमा किए जा सकते हैं ! एक पीपीएफ खाता 15 साल में परिपक्व होता है, जिसके बाद आप या तो अपना सारा पैसा निकाल सकते हैं या पब्लिक प्रोविडेंट फंड खाते (Public Provident Fund Account) को प्रत्येक 5 साल के ब्लॉक के लिए बढ़ा सकते हैं ! पीपीएफ खाते की आवश्यक विशेषताएं क्या हैं - प्रत्येक व्यक्ति के पास केवल एक ही पीपीएफ खाता (PPF Account) हो सकता है !  एकाधिक पीपीएफ खातों की अनुमति नहीं है ! - अभिभावक या माता-पिता अपनी देखरेख में नाबालिग के लिए पीपीएफ खाता शुरू कर सकते हैं ! - पीपीएफ (PPF) योजना के तहत आपका कोई संयुक्त खाता नहीं हो सकता है ! - एक व्यक्ति को एक वर्ष में पचास के गुणकों में राशि जमा करनी होती है, जिसकी शुरूआती राशि रु. 500 ��र अधिकतम राशि रु !  1,50,000 - आप ये जमा एकमुश्त या किश्तों में कर सकते हैं ! - यदि कोई व्यक्ति एक वर्ष में न्यूनतम राशि जमा करने में विफल रहता है तो एक खाता बंद कर दिया जाता है ! - अगर आपका खाता बंद है तो आप दूसरा पब्लिक प्रोविडेंट फंड खाते (Public Provident Fund Account) नहीं खोल सकते हैं ! सार्वजनिक भविष्य निधि पहले 15 वर्षों के लिए निवेश (Public Provident Fund Account Benefits) अगर आप 15 साल तक हर पब्लिक प्रोविडेंट फंड खाते (Public Provident Fund Account) में महीने 1,000 रुपये जमा करते रहेंगे तो 1.80 लाख रुपये जमा करेंगे !  उक्त राशि पर आपको 15 साल बाद 3.25 लाख रुपये मिलेंगे !  इसमें आपका ब्याज 7.1 की दर से 1.45 लाख रुपये होगा ! पीपीएफ 5 साल के लिए बढ़ाया गया अब आप अपने पीपीएफ (Public Provident Fund) को 5 साल के लिए बढ़ाते हैं, और अगर आप हर महीने 1000 रुपये का निवेश जारी रखते हैं, तो 5 साल बाद 3.25 लाख रुपये की राशि बढ़कर 5.32 लाख रुपये हो जाएगी ! पब्लिक प्रोविडेंट फंड को दूसरी बार 5 साल के लिए फिर बढ़ाया गया 5 साल बाद अगर आप 5 साल के लिए फिर से सार्वजनिक भविष्य निधि निवेश (Public Provident Fund Investment) जारी रखते हैं और 1000 रुपये का निवेश जारी रखते हैं, तो अगले 5 साल बाद आपके पब्लिक प्रोविडेंट फंड खाते (Public Provident Fund Account) में पैसा बढ़कर 8.24 लाख रुपये हो जाएगा ! Public Provident Fund को तीसरी बार 5 साल के लिए बढ़ाया गया अगर आप इस पीपीएफ (PPF) खाते को तीसरी बार 5 साल के लिए बढ़ाते हैं ! 1000 रुपये का निवेश जारी रखते हैं, तो कुल निवेश की अवधि 30 साल होगी जबकि पब्लिक प्रोविडेंट फंड खाते (Public Provident Fund Account) में राशि बढ़कर 12.36 लाख रुपये हो जाएगी ! PPF चौथी बार 5 साल के लिए बढ़ा अगर आप पब्लिक प्रोविडेंट फंड खाते (Public Provident Fund Account) को 30 साल बाद 5 साल और बढ़ाते हैं ! और हर महीने 1000 रुपये का निवेश करते रहते हैं, तो 35 वें वर्ष में आपके पीपीएफ(PPF) खाते में पैसा बढ़कर 18.15 लाख रुपये हो जाएगा !  PPF 5 साल के लिए पांचवीं बार बढ़ा 35 साल बाद आप पीपीएफ खाते (PPF Account) को और 5 साल के लिए बढ़ाते हैं ! और महीने में 1000 रुपये का निवेश करते रहते हैं, 40वें साल में आपके सार्वजनिक भविष्य निधि (Public Provident Fund)  खाते में पैसा बढ़कर 26.32 लाख रुपये हो जाएगा ! PPF Account Benefits : सार्वजनिक भविष्य निधि खाते के क्या लाभ हैं निवेश क्यों करें PPF Account Benefits पीपीएफ खाता (Public Provident Fund Account) चुनने का सबसे लोकप्रिय कारण आपको मिलने वाला लाभ है ! मूल राशि कराधान से मुक्त है, बशर्ते कि आप 1.5 लाख रुपये की सीमा से अधिक न हों ! इसे नियंत्रित करने वाले कानून आयकर अधिनियम की धारा 80सी के तहत निर्धारित किए गए हैं ! जब परिपक्वता के बाद राशि को भुनाया जाता है, तब भी यह कराधान के अधीन नहीं होता है ! इसलिए, सार्वजनिक भविष्य निधि (Public Provident Fund)  आप सालाना 1.5 लाख रुपये तक की राशि पूरी तरह से कर-मुक्त कर सकते हैं ! Read the full article

[a-michel73]

Best investment options for salaried persons in India

To build a strong financial backbone, one should invest the money in the right financial instrument. Though, not every investment guarantees substantial returns, but, if you invest wisely and for a good amount of time, the potential to gain healthy returns is higher. Especially, a salaried person who has to manage investments and expenses within a stipulated income. Hence, a salaried individual need to consider amount, risk, risk, and return while determining the best investment option for them.

Here are top investment options

Salaried individuals have different investment requirement than self-employed or other professionals. They have fixed monthly cash inflow to meet up their expenses and save for various life goals. While most of the salaried individuals are covered under post-retirement security in the form of employees provident fund or other mandatory retirement schemes, the corpus generated are often inadequate to meet post-retirement schemes.

1. Equity Mutual Fund

Equity mutual funds (MFs) invest at least 65% of their corpus in equities. Being invested in equities, these funds do better than fixed income instruments and inflation by a wide margin over the long term. These funds are best suited for retail investors who want to invest in stocks but lack the required expertise or time to do so. Equity funds also include a special category of funds called Equity Linked Savings Schemes (ELSS), which qualify for tax deduction under Section 80C of the Income Tax Act. These funds also have the shortest lock-in period of 3 years among all the Section 80C options.Investment in equity mutual fund can be started with just Rs 5000 for lumpsum and additional investments can be made for just Rs 1000. In case of ELSS, the minimum and subsequent investment amount is Rs 500 per month. If you opt for SIPs instead of lumpsum investment, the minimum instalment is Rs 500 and Rs 1,000 for ELSS and other mutual funds, respectively.

2. Debt Mutual Fund

Debt mutual funds invest in fixed income instruments such as corporate debt securities, corporate bonds, government securities, and money market instruments, among others. Although debt funds are prone to minimal risk, they are less volatile than equities generating higher returns than fixed deposits. Moreover, unlike fixed deposits, debt funds do not levy premature withdrawal penalty. However, a few debt funds may charge exit load of up to 3% on redeeming your investment before a pre-determined period.

3. Fixed Deposit

Fixed deposits guarantee interest income and principal repayment at booked rates, regardless of any changes in the card rate during the deposit tenure. At present, small finance banks offer highest rate of Interest up to 9% p.a. (up to 9.6% p.a. for senior citizens) while the highest card rates offered by other private sector banks go up to 8.25% p.a. (8.75% p.a. for senior citizens). The highest card rates offered by public sector banks go up to 7% p.a. (up to 7.5% p.a. for senior citizens). One can also save taxes under Section 80C by investing in tax-saving FDs. However, interest earned is taxable as per tax slab of the depositor. These tax-saving FDs come with a lock-in period of 5 years.

4. Public Provident Fund

PPF is one of the safest funds among all investment options because of the sovereign guarantee from the government. PPF investments also qualify for tax deduction under Section 80C. With a lock-in period of 15 years, PPF is currently offering 8% returns compounded annually. However, the Ministry of Finance analysis the interest rate every financial quarter basis the government bond yields. Additionally, you can extend your investment period after the maturity of 15 years with 5 years block. The minimum amount is Rs 500 and Maximum amount is Rs 1.5 lakh in a financial year.

Lack of liquidity is the PPF’s biggest drawback. Partial withdrawal is permissible only from the 7th FY onwards. Premature closure of the account is allowed after the 5th financial year for medical treatment of serious ailments or life-threatening diseases or for higher education.

5. National Pension System

NPS is a market-linked product for retirement planning. Salaried investors not falling under the ‘Government or Corporate’ model can join NPS under the ‘All Citizens of India’ model. The investments remain locked-in till you reach 60 years of age, which can be extended up to 70 years. Minimum 40% of the accumulated corpus has to be invested to avail annuity while the remaining tax-exempt amount is withdrawn on maturity. You can avail tax deduction of up to Rs 1.5 lakh under Section 80C and an additional deduction of up to Rs 50,000 under Section 80 CCD 1(B).

6. Voluntary Provident Fund

VPF is an extension of the EPF, yielding the same interest rate. Apart from mandatory contribution towards EPF, you can voluntarily choose to increase your contribution to up to 100% of your basic salary and dearness allowance in VPF. The interest rate is reviewed by the government every year and the investment amount qualifies for tax deduction under Section 80C. The interest earned is tax-exempt provided the employee continues to be in service for 5 years or more.

7. National Savings Certificate

National Savings Certificate is a fixed income investment scheme with a lock-in period of 5 years offering an interest rate of 8% compounded annually. Just like the PPF, the NSC interest rates are reviewed every quarter. With minimum deposit of Rs 100 and no maximum deposit limit, you can claim tax deduction of up to Rs 1.5 lakh under Section 80C.

8. Unit Linked Insurance Plan

ULIP combines life insurance with market-linked investment. A part of the premium goes towards insuring your life while the other part is invested in stocks, bonds, market instruments, etc. They offer both death and maturity benefits. ULIPs come with a lock-in period of 5 years and qualify for tax deduction under Section 80C. Insurers also offer various endowment options to suit varying risk appetites. One can also switch between these endowment options to cater to the changing risk craving or market conditions.

[sachinunique]

Section 80C: What are the 10 ways to save income tax?

Under section 80C of the Income Tax Act, people have the opportunity to save income tax by investing up to Rs 1.5 lakh in various schemes in a financial year. Most people save tax by investing only in LIC, PPF etc.

But there are many other options where tax can be saved under section 80C by investing. In this article, we will learn about some such investment options.

Under section 80C of the Income Tax Act, people have the opportunity to save income tax by investing up to Rs 1.5 lakh in various schemes in a financial year. Most people save tax by investing only in LIC, PPF etc.

But there are many more options where tax can be saved under the Sec 80C by investing. In this article, we will learn about some such investment options.

1. Employees Provident Fund (EPF)

The rupee is deposited in the Employees Provident Fund (EPF) which is deducted 12% of the basic salary of every employee every month. Income tax exemption can be claimed on an amount of up to 1.5 lakh in EPF. 8% interest will be given on the amount deposited in EPF for the financial year 2017-18.

2. Investment in Public Provident Fund (PPF)

Deposits deposited in PPF account are eligible for tax deduction under Section 80C. For opening an account in PPF, an account can be opened with a minimum of Rs 500 whereas a tax exemption can be claimed by depositing a maximum of Rs 1.5 lakh in an entire financial year. Interest is received every year on the amount deposited in PPF, which is determined by the Ministry of Finance. The interest rate for the financial year 2017-18 is 7.8%. PPF has a tenure of 15 years, after which the withdrawal is tax-free. The loan can also be taken on the amount deposited in PPF.

3. Investment in Fixed Deposit (FD)

If the amount deposited in the fixed deposit is kept in the bank in the income tax scheme for 5 years, then that amount is eligible for tax exemption under Section 80C. Tax benefits of up to Rs 1.5 lakh can be made in it. There is an interest of 7-9% on the deposit amount. However, every bank pays different interests in it. One problem in this is that if you withdraw the deposit after the maturity period, then the amount received as interest is added to the taxable income.

4. National Savings Certificate (NSC)

NSCs are used to save tax in the financial year in which they are purchased. Under Section 80c, up to 1.5 lakh can be invested in NSC to save taxes. NSCs can be purchased from registered post offices but have a maturity period of 5 years. Interest is paid annually, but this interest is taxed. The current interest rate on the NSC for the financial year 2016-17 is 8.1%.

5. Investment in Unit Linked Insurance Plans (ULIP)

ULIPs are a mixture of insurance and investment. A portion of the amount invested in ULIP is used to provide insurance and the remaining amount is invested in the stock market. Investments up to Rs 1.5 lakh in ULIP are eligible to save income tax under Section 80C. ULIPs do not offer guaranteed returns because they are equity market-linked products. The disadvantage of ULIPs is that they do not clearly state where the investment has been made and how much money has been deducted for commissions and other expenses.

6. Investment in Sukanya Samriddhi Yojana

Under Sukanya Samriddhi Yojana, an account can be opened at any time from the birth of a girl till the age of 10 years. It can be deposited from a minimum of 1000 rupees to a maximum 1.5 lakh rupees every year. Income up to Rs 1.5 lakh is tax-free through this scheme under Section 80c. The interest rate for the financial year 2016-17 on the Sukanya Samriddhi Yojana has been set at 8.6%. There is no tax on the total interest received at the end of this plan. This account lasts for 21 years from the date of opening of the account or till the age of the girl is 18 years.

7. Senior Citizen Savings Scheme (SCSS)

Senior Citizen Savings Scheme (SCSS) is a product of the Government of India. It is one of the safest investment options. Individuals above 60 years of age can open this account. Investments cannot be withdrawn for 5 years under this scheme. The depositor can deposit this and extend it for 3 years. Depositors get 8% - 9% interest in this scheme. Interest received from the investment is not exempt from tax.

8. Tuition Fee of Children

The amount paid in the form of tuition fees for the education of one or two children is exempt from income tax and you can avail it under Section 80C. If the children are twins, then the third child can also get the benefit. Keep in mind that only the fees paid in India come under its purview.

9. Infrastructure Bond

  Infrastructure bonds are popularly known as infra bonds. These are issued by infrastructure companies, the government does not release them. In this Section 80C gets a rebate of up to Rs 1 lakh in income tax while in Section 80 CCCF an additional exemption of Rs 20,000 is available.

10. Home Loan Payment

You are eligible for exemption under Section 80C of Principal Repayment of Home Loan. If you have bought a new house and taken a home loan for that, then you can take advantage of it in Section 80C. It is to be noted here that the Equated Monthly Installment (EMI) of a home loan has two components - "principal" and "interest". You will get exemption under Section 80C only for the amount of principal share. The interest portion is also eligible for income tax exemption but not under 80C, which is under section 24.

In this way, you can save income tax in the above 10 ways. It is important to keep in mind here that the government gives a discount on investing money in all these mediums so that the trend of saving and investment can be promoted among the people.

This type of investment can reduce the risk of people and at the same time increase the flow of money in the economy, which will be helpful in meeting the financial shortage in important sectors.

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Atal Pension Yojana(APY)-Scheme Details, Amount, Elgibility

There are many investments that we must look upon to make our tomorrow secure from any financial problems. For government employees, there are so many ways like GPF, PPF, and many more. Thus, for the unorganized sector, there are various schemes came into force. Atal Pension Yojana or APY is one of them. So, let’s know more about it!

What Is Atal Pension Yojana?

Atal Pension Yojana or APY is implemented with an objective to provide the pension benefits to individuals in the unorganized sector. Pension Funds Regulatory Authority of India (PFRDA) synchronizes this plan. However, those who are in the organized sector and have no recourse for pension can also apply for this scheme.

The Central Government of India has launched three programs:

Jan Suraksha schemes during 2015-16, Atal Pension Yojana (APY),

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), and

Pradhan Mantri Suraksha Bima Yojana (PMSBY).

Due to immense public response from the Pradhan Mantri Jan Dhan Yojana to avail banking with zero balance account, our former Finance Minister Late Shri Arun Jaitley decided to create an expanded and enhanced version of the National Pension Scheme, i.e., Atal Pension Yojana. It is a replacement for the former Swavalamban pension Yojana. In Atal Pension Yojana (APY), the investor will receive their accumulated amount as a monthly payment, just as a regular income.

In case, if you (the investor) pass away, your family or better half avails of it. However, if both, i.e., you and your spouse pass away, your nominee will receive the bulk of the amount. Hence, it’s a source of income in old age.

Thus, it helps people of retirement ages to save money for future needs. The entire bulk pension money depends on the amount you devote towards it every month. Added to this, your age is also taken into consideration. One can get this amount from the age of 60 years.

What Are The Extensions We Have From NPS In APY?

APY was launched in 2015 by Finance Minister Arun Jaitley. On the one hand, where NPS is for everyone, APY focuses on the unorganized sector. According to a circular issued by the Income Tax Department in 2016, contributions to APY will be eligible for the same tax benefit as NPS.

a. Age

The customer should be at least 18 years of age to open an NPS account. The maximum age is 55 years. For APY, a person must be 18 years or older to apply. The maximum age for contributing is 40 years.

b. Investment

There is no maximum investment limit for NPS, whereas APY works on a predetermined monthly contribution. Suppose you start investing as early at the age of 18 and invests Rs 210 per month for 42 years of his life. Then you will earn Rs 5,000 periodically.

c. Minimum Investment

Under the NPS scheme, you have to contribute a minimum of Rs 500 per month, while under APY, there are three payment modes for contribution: monthly, quarterly, and half-yearly. Thus, you’re required to pay a monthly payment of Rs 42 to get a minimum guaranteed return of Rs 1000.

d. Returns

Under the APY scheme, returns get decided beforehand. The return ranges from Rs 1000 to Rs 5000, with the denominations of 1000. For NPS, returns get associated with markets. This means that returns for NPS customers can vary depending on various factors, such as market movement.

e. Premature Withdrawal

As per APY rules, you’re not allowed to withdraw money before the tenure ends. However, in case you die or have a severe medical condition, you shall be entitled to withdraw the amount. For NPS, premature withdrawals will only be allowed in Tier 2 accounts.

Features of Atal Pension Yojana:

1. Raising The Amount Of Subsidy:

As stated above, the amount of pension at your 60s solely depends on how much money you had devoted towards this. Apart from that, it also includes how early you had started investing. These pension amounts vary with the different contributions you made in your producing ages. It may happen that you may devote more bucks towards this plan. As certainly, it will yield bigger fruits in the future.

To make your way easier, the government has laid other paths too. Now, you can add up or deduct from your actual payment towards this every month. Let’s say in a month; you had other prioritized expenditures too. So, indeed, you’ll not be able to devote more money towards this. In that case, you’ll have to decrease your subsidy. Thus, the thread is in your hand itself. When to lose and when to tighten, it’s completely your choice. All you need to do is consult your bank branch manager about it and work upon the necessity.

2. Auto-Debit:

It gives you the facility of auto-debit, so you should not take this into consideration. It will be paid automatically. The only thing you need to consider is the sufficient balance in your account, which is linked with the APY account so as not to penalize yourself.

3. Pension:

It can be provided into denominations of Rs. 1000, Rs.2000, Rs.3000, Rs.4000, Rs.5000, depending on your monthly contributions.

4. Age-Restriction:

This scheme has an age restriction between 18 to 40 years. So college students can also invest in this scheme, and the maximum bar is of 40 years because in this scheme you have to contribute for at least 20 years.

5. Premature Withdrawal:

You’re not permissible to extract the amount earlier than the requisite day. However, in cases like any severe illness or death, you’re permissible for withdrawal. You can get the total amount you expended for such cases.

However, if you discontinue the plan before turning 60s for any reason except stated above, you’ll be in a great loss. Although the sum and interest you earned on that sum, will get paid back to you. Yet you won’t get granted for any government gifts or extra bucks on the interest earned on your sum.

After attaining the age of 60 years, you will be eligible to withdraw the entire amount after the closure of the scheme with the bank concerned, i.e. get a monthly pension. You can also take all the reimbursements in case of any tragic illness before attaining the age of 60.

6. Penalty Charges:

If you miss your payments, a penalty will be imposed. A fine of Re. 1 is imposed on the monthly endowment of Rs. 100 and more.Fine of Rs. 2 is imposed on the contribution of Rs. 101 to Rs.500.

Rs. 5 fine will be imposed on the contribution of Rs.501 and Rs. 1000.Rs. 10 will be imposed on the contribution of Rs. 1000 and above. If in case you’re unable to pay your subsidy for 6 months, your account gets seized temporarily. However, if the delay continues until 12 months or more, it collapses on its own. Then, your entire amount gets paid back to you.

7. Tax Deduction:

The tax deduction portion of this scheme falls under section 80CCD. As per section 80CCD, a max of 10% of your total basic wage. However, the max limit is Rs. 1,50,000. Additional discount of Rs. 50,000 is allowed under Section 80CCD (1B) for devoting to Atal Pension Yojana.

Monthly Contribution For Atal Pension Yojana Chart Age-Wise

According to different ages, you must deposit dissimilar contributions. Keeping the fact of how much pension you want after 60, the payment varies. This graph will help you understand and analyze according to your specifications.

Monthly Contribution Of Atal Pension Yojana

Benefits Of Atal Pension Yojana:

1. Regular Income Source For Old Age:

This scheme financially enables you in the age of 60s to meet your necessities. This is specially made for the ones working in unorganized sectors, e.g., Maids, gardeners, etc. In case of any illness or accident, this scheme provides a sense of security to all such crowds.

2. Nominee:

Unfortunately, if you pass away, your wife gets to avail of it. However, there are situations where both the investor and his wife dies. Then, the nominee has the choice to avail the entire amount. He can deactivate the account and receive the same pension money. The nominee can be a legal heir or any other family member.

3. For Unorganised Quarter:

Why should government employees avail of all opportunities? Some get diverted towards the corporate sectors as well. For making their lives easier, this plan got implemented. Although ones who are in the organized sector and had no recourse to a pension can also apply for this Yojana.

4. Government-Supported:

This scheme gets backed by the government, so there is no means of loss or risk. Your hard-earned money is in protective hands.

Eligibility Criteria Of Atal Pension Yojana

i. You must be an Indian civilian.

ii. You must have a legitimate active contact number.

iii. Make sure your account is well tied-up with Aadhar Card.

iv. You must be in the age bracket of 18 to 40 years.

v. You must not be a part of other welfare plans.

vi. The min duration that you must fund to your account is 20 years.

Beneficiaries of Swavalamban pension Yojana are automatically migrated to this scheme.

Characteristics For Atal Pension Yojana

All nationalized banks offer this scheme. You can choose these banks to open your APY account.

Atal Pension Yojana can be accessed from online portals or from the other banks. This form can also be downloaded from the official site.

The forms are in service in English and Hindi and seven other regional languages, i.e., Bangla, Gujarati, Kannada, Marathi, Odia, Tamil, and Telugu.

Pen down the blanks in the form, after filling, handover them to the bank for further work.

If you have not already provided a contact number to the bank, provide a valid mobile number.

Also, carry with yourself two scanned pictures of your Aadhar card.

Frequently Asked Questions

1. Is it feasible for me to subscribe to the APY pension plan? What if I’ve not opened a savings account yet?

No, first of all, you need to open a savings account. Until and unless you save, how’ll you divert towards other fields? Then go for an APY subscription.

2. Is it mandatory to declare a candidate while applying for Atal Pension Yojana?

Yes, in case both you and your wife’s unfortunate death, your nominee gets the amount. So, you need to choose a person as your nominee. For more verification of your nominee, you must provide his KYC information as well.

3. Can I accumulate more than one pension accounts under this scheme?

No, you cannot accumulate multiple pension accounts under this plan.

4. Is there any way how I can apply for it online?

No, at present, there is no provision to apply online for APY. You can fill the form in the post office only.

5. What documentation you must carry with yourself to submit for this scheme?

To apply for the APY scheme, you need to submit the form accompanying a scanned Xerox copy of your Aadhar card. No further documents you need to carry.

6. How can I know if my scheme is functioning well or not?

You will get a notification pop up on your registered phone number once the plan gets approved.

7. When is the last date to which I can join the Atal Pension Yojana?

Atal Pension Yojana does not have any such last date to join the scheme. Handover this form as early as 1st June for being the part of this magnanimous scheme. The scheme gets revived every year by 1st June.

8. Is the money invested in this plan safe? Will the plan face any kind of transformation if the party changes?

Although this scheme is passed in the budget session, it doesn’t depend on Government bifurcations or change. The plan will not be closed if the government changes, and your contribution is safe. Any successful governments only have the right to rename the pension scheme.

9. What is the age tenure to join this scheme?

You can join this scheme as early as the age of 18 years. College going students can also go for it. The highest age for being part of this scheme is 40 years. Having the upper limit is due to the reason of the compulsory contribution duration of 20 years. From 60 onwards, you will start being paid with your pension.

Final Talk

Pension getting is another beautiful stage of life. Getting ripened fruits for a tree, you grew in the past is something to cherish for! I hope this article helped you in enlightening your views.

source http://invested.in/atal-pension-yojana/

source https://investedindia.wordpress.com/2020/09/23/atal-pension-yojanaapy-scheme-details-amount-elgibility/