After PAN, bank accounts and many other things, the government has made Aadhaar mandatory for all post office savings schemes, including PPF, NSC, and Kisan Vikas Patra.
After PAN, bank accounts and many other things, the government has made Aadhaar mandatory for all post office savings schemes, including PPF, NSC, and Kisan Vikas Patra. The existing depositors have been given time till December 31, 2017 to provide the 12-digit unique identification number. “Existing depositors who have not provided Aadhaar number at the time of application for such deposit shall submit their Aadhaar number to the post office savings bank or deposit office concerned, on or before December 31, 2017,” said a notification issued by the Ministry of Finance recently.
It may be noted that Aadhaar has already been made compulsory for a number of schemes and utilities, including PAN card, bank deposits, mobile phone and social schemes. Here we are taking a look at some of them:
1. PAN Card: If you have an Aadhaar card, then you are required to link your Aadhaar number to your PAN card for filing your income tax return. Although the deadline for linking one’s Aadhaar number has now been extended to December 31, 2017, however your income tax returns will not be processed by the Income Tax Department unless you link your Aadhaar number to your PAN card. Having an Aadhaar card also makes e-verification of income tax return quick and easy.
2. Banking Transactions: It is now necessary to submit your Aadhaar number while doing banking transactions of Rs 50,000 or above.
3. Opening of Bank Account: Aadhaar number has also been made mandatory for opening a bank account. You are also required to link your Aadhaar number to your existing bank account. The government has laid a deadline of 31st December 2017 for this activity.
4. E-KYC for Mobile Number: The Telecom Ministry has issued an order to the telecom companies to e-verify every user’s phone number using their Aadhaar card.
5. Mutual Fund Accounts: Aadhaar number has also been made compulsory for mutual fund accounts. The government has set the deadline of December 31, 2017, for doing this. If one fails to do this by this time, then one’s MF account will become inactive.
6. Provident Fund: You can apply for the Employee Provident Fund (EPF) withdrawal online only if your Aadhaar number is linked with your EPF account.
7. Social Schemes: Aadhaar has also been made compulsory for availing various social schemes. The deadline for obtaining Aadhaar for the same has now been extended from September 30 to December 31.
Apart from the above, there are many other things for which Aadhaar has now been made compulsory, which include student scholarship and gas subsidy, among others.