• Nov
  • 11
  • 2011

No Commission to Post Office Agents on PPF, SCSS & reduced in other Schemes

Article ID 45059 | Posted In Income Tax | , | 51 Comments » Print Friendly and PDF

Decisions on the recommendations of the Committee for Comprehensive Review of National Small Savings Fund (NSSF) by finance ministry in repsect of commission to be paid to post office agents .

Commission to Post Office Agents

(i)                 Payment of commission on PPF schemes (1%) and Senior Citizens Savings Scheme (0.5%) will be discontinued.

(ii)             Agency commission under all other schemes (except MPKBY agents) will be reduced from existing 1% to 0.5%.

(iii)             Commission at existing rate of 4% will continue for Mahila Pradhan Kshetriya Bachat Yojana (MPKBY) agents.

(iv)              Incentives, if any, paid by the State/UT Governments will be reduced from the commission paid by the Central Government.

Notification for effective date for these are expected very soon.