Aadhaar Linking Deadline: PPF, NSC, SCSS Consequences

Aadhaar Linking Deadline: PPF, NSC, SCSS Consequences
Source: Freepik

If you are an investor in small savings schemes such as Public Provident Fund (PPF), National Savings Certificate (NSC), or Senior Citizens Savings Scheme (SCSS), you need to link your Aadhaar number with these accounts by September 30, 2023. Failing to do so will result in your accounts being frozen and you will not be able to avail the benefits of these schemes. Here are the details about the Aadhaar linking deadline and its consequences for small savings schemes.

Why Aadhaar linking is mandatory for small savings schemes?

The Ministry of Communications issued a notification on March 31, 2023, making it mandatory for investors in small savings schemes to submit their Aadhaar number and PAN to the Accounts Office where they have opened their accounts¹. The notification stated that this is done to prevent money laundering and tax evasion and to ensure transparency and accountability in the financial transactions.

The notification also specified that existing investors who have not submitted their Aadhaar number and PAN to the Accounts Office must do so within six months from April 1, 2023, i.e., by September 30, 2023. The notification also said that if an investor has not been assigned an Aadhaar number, he or she must furnish proof of application for Aadhaar at the time of opening an account and submit the Aadhaar number within six months from the date of opening of account.

The notification covered various small savings schemes under the Government Savings Promotion Act, such as PPF, NSC, SCSS, Kisan Vikas Patra (KVP), Sukanya Samriddhi Yojana (SSY), Post Office Time Deposit (POTD), Post Office Monthly Income Scheme (POMIS), etc.

What are the consequences of not linking Aadhaar with small savings schemes?

According to the notification, if an investor fails to submit his or her Aadhaar number and PAN within the stipulated period, the account shall cease to be operational till the time these documents are submitted. This means that the investor will not be able to make any deposits or withdrawals from the account and will not receive any interest or maturity amount from the account.

Additionally, the investor will not be able to avail any facilities or benefits associated with these schemes, such as loans against PPF or NSC, premature withdrawal from SCSS or SSY, transfer of account from one post office or bank branch to another, etc.

The notification also said that if an investor submits his or her Aadhaar number and PAN after the expiry of the stipulated period, the account shall be made operational from the date of submission of these documents after levying a penalty as prescribed by the government.

How to link Aadhaar with small savings schemes?

To link Aadhaar with small savings schemes, investors need to follow these steps:

  • Visit the post office or bank branch where you have opened your account and fill up a form for linking Aadhaar with your account.
  • Submit a self-attested copy of your Aadhaar card along with your original Aadhaar card for verification.
  • Submit a self-attested copy of your PAN card along with your original PAN card for verification.
  • The Accounts Office will verify your details and link your Aadhaar and PAN with your account.
  • You will receive a confirmation message or email once your Aadhaar and PAN are linked with your account.

Alternatively, you can also link your Aadhaar and PAN with your account online through the official website of India Post or through the UMANG app. However, you will still need to visit the Accounts Office for verification of your documents.

Tips and tricks for linking Aadhaar with small savings schemes

If you want to link your Aadhaar and PAN with your small savings schemes smoothly and quickly, here are some tips and tricks that you can follow:

  • Check your Aadhaar and PAN details before submitting them to avoid any errors or mismatch.
  • Update your mobile number and email address with your Accounts Office to receive timely notifications and alerts regarding your account status.
  • Keep a track of the deadline and submit your documents well in advance to avoid any last-minute rush or inconvenience.
  • If you have multiple accounts in different post offices or bank branches, you can link them all with one Aadhaar number and one PAN number.
  • If you face any difficulty or issue in linking your Aadhaar and PAN with your account, you can contact the customer care helpline of India Post at 1800-11-2011 or email at dopgds@indiapost.gov.in.

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