Atal Pension Yojana (APY) – Details of the Scheme

1. Introduction

1.1 The Government of India is extremely concerned about the old age income security of the working poor and is focused on encouraging and enabling them to join the National Pension System (NPS). To address the longevity risks among the workers in unorganised sector and to encourage the workers in unorganised sector to voluntarily save for their retirement, who constitute 88% of the total labour force of 47.29 crore as per the 66th Round of NSSO Survey of 2011-12, but do not have any formal pension provision, the Government had started the Swavalamban Scheme in 2010-11. However, coverage under Swavalamban Scheme is inadequate mainly due to lack of guaranteed pension benefits at the age of 60.

1.2 The Government announced the introduction of universal social security schemes in the Insurance and Pension sectors for all Indians, specially the poor and the under-privileged, in the Budget for the year 2015-16. Therefore, it has been announced that the Government will launch the Atal Pension Yojana (APY), which will provide a defined pension, depending on the contribution, and its period. The APY will be focussed on all citizens in the unorganised sector, who join the National Pension System (NPS) administered by the Pension Fund Regulatory and Development Authority (PFRDA). Under the APY, the subscribers would receive the fixed minimum pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contributions, which itself would be based on the age of joining the APY. The minimum age of joining APY is 18 years and maximum age is 40 years. Therefore, minimum period of contribution by any subscriber under APY would be 20 years or more.  The benefit of fixed minimum pension would be guaranteed by the Government. The APY would be introduced from 1st June, 2015.

2. Benefit of APY

2.1 Fixed pension for the subscribers ranging between Rs. 1000 to Rs. 5000, if he joins and contributes between the age of 18 years and 40 years. The contribution levels would vary and would be low if subscriber joins early and increase if he joins late.

PMAPY

3. Eligibility for APY

3.1 Atal Pension Yojana (APY) is open to all bank account holders. The Central Government would also co-contribute 50% of the total contribution or Rs. 1000 per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years, i.e., from Financial Year 201 5-16 to 2019-20, who join the NPS before 31st December, 2015 and who are not members of any statutory social security scheme and who are not income tax payers. However the scheme will continue after this date but Government Co-contribution will not be available.

3.2 The Government co-contribution is payable to eligible PRANs by PFRDA after receiving the confirmation from Central Record Keeping Agency at such periodicity as may be decided by PFRDA.

4. Age of joining and contribution period

4.1 The minimum age of joining APY is 18 years and maximum age is 40 years. The age of exit and start of pension would be 60 years. Therefore, minimum period of contribution by the subscriber under APY would be 20 years or more.

5. Focus of APY

5.1      Mainly targeted at unorganised sector workers.

6. Enrolment and Subscriber Payment

6.1 All bank account holders under the eligible category may join APY with auto-debit facility to accounts, leading to reduction in contribution collection charges. The subscribers should keep the required balance in their savings bank accounts on the stipulated due dates to avoid any late payment penalty. Due dates for monthly contribution payment is arrived based on the deposit of first contribution amount. In case of repeated defaults for specified period, the account is liable for foreclosure and the GoI co-contributions, if any shall be forfeited. Also any false declaration about his/her eligibility for benefits under this scheme for whatsoever reason, the entire government contribution shall be forfeited along with the penal interest. For enrolment, Aadhaar would be the primary KYC document for identification of beneficiaries, spouse and nominees to avoid pension rights and entitlement related disputes in the long-term. The subscribers are required to opt for a monthly pension from Rs. 1000 – Rs. 5000 and ensure payment of stipulated monthly contribution regularly. The subscribers can opt to decrease or increase pension amount during the course of accumulation phase, as per the available monthly pension amounts. However, the switching option shall be provided once in year during the month of April. Each subscriber will be provided with an acknowledgement slip after joining APY which would invariably record the guaranteed pension amount, due date of contribution payment, PRAN etc.

7. Enrolment agencies

7.1 All Points of Presence (Service Providers) and Aggregators under Swavalamban Scheme would enrol subscribers through architecture of National Pension System. The banks, as POP or aggregators, may employ BCs/Existing non – banking aggregators, micro insurance agents, and mutual fund agents as enablers for operational activities. The banks may share the incentives received by them from PFRDA/Government, as deemed appropriate.

8. Operational Framework of APY

8.1 It is Government of India Scheme, which is administered by the Pension Fund Regulatory and Development Authority. The Institutional Architecture of NPS would be utilised to enrol subscribers under APY. The offer document of APY including the account opening form would be formulated by PFRDA.

9. Funding of APY

9.1 Government would provide (i) fixed pension guarantee for the subscribers; (ii) would co-contribute 50% of the total contribution or Rs. 1000 per annum, whichever is lower, to eligible subscribers; and (iii) would also reimburse the promotional and development activities including incentive to the contribution collection agencies to encourage people to join the APY.

10. Migration of existing subscribers of Swavalamban Scheme to APY

10.1 The existing Swavalamban subscriber, if eligible, may be automatically migrated to APY with an option to opt out. However, the benefit of five years of government Co-contribution under APY would not exceed 5 years for all subscribers. This would imply that if, as a Swavalamban beneficiary, he has received the benefit of government Co-Contribution of 1 year, then the Government co-contribution under APY would be available only 4 years and so on. Existing Swavalamban beneficiaries opting out from the proposed APY will be given Government co-contribution till 2016- 17, if eligible, and the NPS Swavalamban continued till such people attained the age of exit under that scheme.

10.2 The existing Swavalamban subscribers between 18-40 years will be automatically migrated to APY. For seamless migration to the new scheme, the associated aggregator will facilitate those subscribers for completing the process of migration. Those subscribers may also approach the nearest authorised bank branch for shifting their Swavalamban account into APY with PRAN details.

10.3 The Swavalamban subscribers who are beyond the age of 40 and do not wish to continue may opt out the Swavalamban scheme by complete withdrawal of entire amount in lump sum, or may prefer to continue till 60 years to be eligible for annuities there under.

11. Penalty for default

11.1 Under APY, the individual subscribers shall have an option to make the contribution on a monthly basis. Banks are required to collect additional amount for delayed payments, such amount will vary from minimum Rs. 1 per month to Rs 10/- per month as shown below:

  • 1 per month for contribution upto Rs. 100 per month.
  • 2 per month for contribution upto Rs. 101 to 500/- per month.
  • 5 per month for contribution between Rs 501/- to 1000/- per month.
  • 10 per month for contribution beyond Rs 1001/- per month.

The fixed amount of interest/penalty will remain as part of the pension corpus of the subscriber.

11.2 Discontinuation of payments of contribution amount shall lead to following:

  • After 6 months account will be frozen.
  • After 12 months account will be deactivated.
  • After 24 months account will be closed.

12. Operation of additional amount for delayed payments

12.1    APY module will raise demand on the due date and continue to raise demand till the amount is recovered from the subscriber’s account

12.2    The due date for recovery of monthly contribution may be treated as the first day /or any other day during the calendar month for each subscriber. Bank can recover amount any day till the last day of the month. It will imply that contribution are recovered as and when funds are available any point during the month.

12.3    Monthly contribution will be recovered on FIFO basis- earliest due instalment will recovered first along with the fixed amount of charges as mentioned above.

12.4 More than one monthly contribution can be recovered in month subject to availability of the funds. Monthly contribution will be recovered along with the monthly fixed due amount, if any. In all cases, the contribution is to be recovered along with the fixed charges. This wilbe banks’ internal process. The due amount will be recovered as and when funds are available in the account.

13. Investment of the contributions under APY

13.1 The amount collected under APY are managed by Pension Funds appointed by PFRDA as per the investment pattern specified by the Government. The subscriber has no option to choose either the investment pattern or Pension Fund.

14. Continuous Information Alerts to Subscribers

14.1 Periodical information to the subscribers regarding balance in the account, contribution credits etc. will be intimated to APY subscribers by way of SMS alerts. The subscribers will have the option to change the non – financial details like nominee s name, address, phone number etc whenever required.

14.2 All subscribers under APY remain connected on their mobile so that timely SMS alerts can be provided to them at the time of making their subscription, auto-debit of their accounts and the balance in their accounts.

15. Exit and pension payment

15.1 Upon completion of 60 years, the subscribers will submit the request to the associated bank for drawing the guaranteed monthly pension.

15.2 Exit before 60 years of age is not permitted, however, it is permitted only in exceptional circumstances, i.e., in the event of the death of beneficiary or terminal disease.

16. Age of Joining, Contribution Levels, Fixed Monthly Pension and Return of Corpus to the nominee of subscribers

16.1 The Table of contribution levels, fixed minimum monthly pension to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period is given below. For example, to get a fixed monthly pension between Rs. 1,000 per month and Rs. 5,000 per month, the subscriber has to contribute on monthly basis between Rs. 42 and Rs. 210, if he joins at the age of 18 years. For the same fixed pension levels, the contribution would range between Rs. 291 and Rs. 1,454, if the subscriber joins at the age of 40 years.

Table of contribution levels, fixed monthly pension of Rs. 1,000 per month to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period under Atal Pension Yojana

Age of Joining Years of
Contribution
Indicative Monthly Contribution (in Rs.) Monthly Pension
to the subscribers and   his spouse
(in Rs.)
Indicative  Return    of Corpus  to the nominee of the subscribers (in Rs.)
18 42 42 1,000 1.7 Lakh
20 40 50 1,000 1.7 Lakh
25 35 76 1,000 1.7 Lakh
30 30 116 1,000 1.7 Lakh
35 25 181 1,000 1.7 Lakh
40 20 291 1,000 1.7 Lakh

Table of contribution levels, fixed monthly pension of Rs. 2,000 per month to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period under Atal Pension Yojana

Age of Joining Years         of
Contribution
Indicative Monthly Contribution (in Rs.) Monthly Pension to the subscribers and his spouse (in Rs.) Indicative Return of Corpus to the nominee of the
subscribers (in Rs.)
18 42 84 2,000 3.4 lakh
20 40 100 2,000 3.4 lakh
25 35 151 2,000 3.4 lakh
30 30 231 2,000 3.4 lakh
35 25 362 2,000 3.4 lakh
40 20 582 2,000 3.4 lakh

 Table of contribution levels, fixed monthly pension of Rs. 3,000 per month to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period under Atal Pension Yojana

Age of Joining Years          of
Contribution
Indicative Monthly Contribution (in Rs.) Monthly Pension to the subscribers    and his    spouse    (in
Rs.)
Indicative Return of Corpus       to       the nominee      of     the
subscribers (in Rs.)
18 42 126 3,000 5.1 Lakh
20 40 150 3,000 5.1 Lakh
25 35 226 3,000 5.1 Lakh
30 30 347 3,000 5.1 Lakh
35 25 543 3,000 5.1 Lakh
40 20 873 3,000 5.1 Lakh

Table of contribution levels, fixed monthly pension of Rs. 4,000 per month to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period under Atal Pension Yojana

Age of Joining Years        of
Contribution
Indicative Monthly Contribution    (in Rs.) Monthly    Pension
to the subscribers and his spouse
(in Rs.)
Indicative Return of Corpus to the nominee of the subscribers (in Rs.)
18 42 168 4,000 6.8 Lakh
20 40 198 4,000 6.8 Lakh
25 35 301 4,000 6.8 Lakh
30 30 462 4,000 6.8 Lakh
35 25 722 4,000 6.8 Lakh
40 20 1164 4,000 6.8 Lakh

Table of contribution levels, fixed monthly pension of Rs. 5,000 per month to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period under Atal Pension Yojana

Age of Joining Years          of
Contribution
Indicative Monthly Contribution   (in Rs.) Monthly Pension to the subscribers and his   spouse
(in Rs.)
Indicative Return of Corpus to       the nominee of      the subscribers (in Rs.)
18 42 210 5,000 8.5 Lakh
20 40 248 5,000 8.5 Lakh
25 35 376 5,000 8.5 Lakh
30 30 577 5,000 8.5 Lakh
35 25 902 5,000 8.5 Lakh
40 20 1,454 5,000 8.5 Lakh

 Frequently Asked Questions-Atal Pension Yojana

Q1. What is Pension? Why do I need it?

A Pension provides people with a monthly income when they are no longer earning. Need for Pension:

  • Decreased income earning potential with age.
  • The rise of nuclear family-Migration of earning members.
  • Rise in cost of living.
  • Increased longevity.

Assured monthly income ensures dignified life in old age.

Q2.What is Atal Pension Yojana?

Atal Pension Yojana (APY),1 a pension scheme for citizens of India focussed on the unorganised sector workers. Under the APY, guaranteed minimum pension of Rs. 1,000/-, 2,000/-, 3,000/-, 4,000 and 5,000/- per month will be given at the age of 60 years depending on the contributions by the subscribers.

Q3. Who can subscribe to APY?

Any Citizen of India can join APY scheme. The following are the eligibility criteria,

i        The age of the subscriber should be between 18 – 40 years.

ii        He / She should have a savings bank account/ open a savings bank account.

iii        The prospective applicant should be in possession of mobile number and its details are to be furnished to the bank during registration.

Government co-contribution is available for 5 years, i.e., from 2015-16 to 2019-20 for the subscribers who join the scheme during the period from 1st June, 2015 to 31st December, 2015 and who are not covered by any Statutory Social Security Schemes and are not income tax payers.

Q4.  Who are the other social security schemes beneficiaries not eligible to receive Government co-contribution under APY?

Beneficiaries who are covered under statutory social security schemes are not eligible to receive Government co-contribution. For example, members of the Social Security Schemes under the following enactments would not be eligible to receive Government co-contribution:

i. Employees’ Provident Fund & Miscellaneous Provision Act, 1952.

ii. The Coal Mines Provident Fund and Miscellaneous Provision Act, 1948.

iii. Assam Tea PlantationProvident Fund and Miscellaneous Provision, 1955.

iv. Seamens’ Provident Fund Act, 1966.

v. Jammu Kashmir Employees’ Provident Fund & Miscellaneous Provision Act,

Any other statutory social security scheme.

Q5.  How much pension will be received under APY?

Guaranteed minimum pension of Rs 1,000/-, 2,000/-, 3,000/-, 4,000 and 5,000/- per month will be given at the age of 60 years depending on the contributions by the subscribers.

Q6.  What is the benefit in joining APY scheme?

In APY, Government will co-contribute 50% of the total contribution or Rs. 1,000/- per annum, whichever is lower, to the eligible APY account holders who join the scheme during the period 1st June, 2015 to 31st December, 2015. The Government co-contribution will be given for 5 years from FY 2015-16 to 2019-20.

Q7. How are the contributions of APY invested?

The contributions under APY are invested as per the investment guidelines prescribed by Ministry of Finance, Government of India. The APY scheme is administered by PFRDA/GOVERNMENT.

Q8. What is the procedure for opening APY Account?

i       Approach the bank branch where individual’s savings bank account is held.

ii       Fill up the APY registration form.

iii      Provide Aadhaar/Mobile Number.

iv     Ensure keeping the required balance in the savings bank account for transfer of monthly contribution.

Q9.  Whether Aadhaar Number is compulsory for joining the scheme?

It is not mandatory to provide Aadhaar number for opening APY account. However, For enrolment, Aadhaar would be the primary KYC document for identification of beneficiaries, spouse and nominees to avoid pension rights and entitlement related disputes in the long-term.

Q10.  Can I open APY Account without savings bank account?

For joining APY, savings bank account is mandatory.

Q11. What is the mode of contribution to the account?

All the contributions are to be remitted monthly through auto-debit facility from savings bank account of the subscriber.

Q12. What is the due date for monthly contribution?

The due date for monthly contribution will be as per the initial date of deposit of contribution into APY.

Q13. What will happen if required or sufficient amount is not maintained in the savings bank account for contribution on the due date?

Non-maintenance of required balance in the savings bank account for contribution on the specified date will be considered as default. Banks are required to collect additional amount for delayed payments, such amount will vary from minimum Re 1 per month to Rs 10/- per month as shown below:

i. Rs. per month for contribution upto Rs. 100 per month.

ii. Rs. per month for contribution upto Rs. 101 to 500/- per month.

iii. Rs. 5 per month for contribution between Rs 501/- to 1000/- per month.

iv. Rs. 10 per month for contribution beyond Rs 1001/- per month.

Discontinuation of payments of contribution amount shall lead to following:

After 6 months account will be frozen.

After 12 months account will be deactivated.

After 24 months account will be closed.

Subscriber should ensure that the Bank account to be funded enough for auto debit of contribution amount.

The fixed amount of interest/penalty will remain as part of the pension corpus of the subscriber.

Q14. How much should I invest in APY to get the guaranteed pension of Rs. 1000?

Age of Joining Years of Contribution Indicative Monthly contribution
18 42 42
20 40 50
25 35 76
30 30 116
35 25 181
40 20 291

All the contributions are to be remitted monthly through auto debit facility from savings bank account of the subscriber.

*For detailed age wise contribution refer Annexure 1.

Q15. Is it required to furnish nomination while joining the scheme?

Yes. It is mandatory to provide nominee details in APY account. The spouse details are also mandatory wherever applicable. Their aadhaar details are also to be provided.

Q16. How many APY accounts I can open?

A subscriber can open only one APY account and it is unique.

Q17. Will there be any option to increase or decrease the monthly contribution for higher or lower pension amount?

The subscribers can opt to decrease or increase pension amount during the course of accumulation phase, as per the available monthly pension amounts. However, the switching option shall be provided once in year during the month of April.

Q18. What is the withdrawal procedure from APY?

A. On attaining the age of 60 years:

The exit from APY is permitted at the age with 100% annuitisation of pension wealth. On exit, pension would be available to the subscriber.

B. In case of death of the Subscriber due to any cause:

In case of death of subscriber pension would be available to the spouse and on the death of both of them (subscriber and spouse), the pension corpus would be returned to his nominee.

C. Exit Before the age of 60 Years:

The Exit before age 60 would be permitted only in exceptional circumstances, i.e., in the event of the death of beneficiary or terminal disease.

Q19. How will I know the status of my contribution?

The status of contributions will be intimated to the registered mobile number of the subscriber by way of periodical SMS alerts. The Subscriber will also be receiving physical Statement of Account.

Q20. Will I get any statement of transactions?

Yes. Periodic statement of APY account will be provided to the subscribers.

Q21. If I move my residence/city, how can I make contributions to APY account?

The contributions may be remitted through auto debit uninterruptedly even in case of dislocation.

Q22.  What will happen to existing subscribers in Swavalamban Yojana?

  • All the registered subscribers under Swavalamban Yojana aged between 18-40 yrs will be automatically migrated to APY with an option to opt out. However, the benefit of five years of Government Co-contribution under APY would be available only to the extent availed by the Swavalamban subscriber already. This would imply that if, as a Swavalamban beneficiary, he has received the benefit of government Co-Contribution of 1 year, then the Government co-contribution under APY would be available only for 4 years and so on. Existing Swavalamban beneficiaries opting out from the proposed APY will be given Government co-contribution till 2016-17, if eligible, and the NPS Swavalamban continued till such people attain the age of exit under that scheme.
  • Other subscribers above 40 years who do not wish to continue may opt out of the scheme with lump sum withdrawal.
  • Subscribers above 40 years may also opt to continue till the age of 60 years and eligible for annuities.
  • The existing Swavalamban scheme may be automatically migrated to APY

Indicative APY Contribution Chart (Agewise)

Annexure 1.

Age of Entry Years of
Contribution
Monthly pension of Rs. 1000. Monthly
pension of Rs.
2000.
Monthly pension
of Rs. 3000.
Monthly pension
of Rs. 4000.
Monthly
pension of Rs.
5000.
18 42 42 84 126 168 210
19 41 46 92 138 183 228
20 40 50 100 150 198 248
21 39 54 108 162 215 269
22 38 59 117 177 234 292
23 37 64 127 192 254 318
24 36 70 139 208 277 346
25 35 76 151 226 301 376
26 34 82 164 246 327 409
27 33 90 178 268 356 446
28 32 97 194 292 388 485
29 31 106 212 318 423 529
30 30 116 231 347 462 577
31 29 126 252 379 504 630
32 28 138 276 414 551 689
33 27 151 302 453 602 752
34 26 165 330 495 659 824
35 25 181 362 543 722 902
36 24 198 396 594 792 990
37 23 218 436 654 870 1,087
38 22 240 480 720 957 1,196
39 21 264 528 792 1,054 1,318
40 20 291 582 873 1,164 1,454

(Article is Compiled by Taxguru Team based on Information from Various Government Websites)

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85 responses to “All about Atal Pension Yojana (APY)”

  1. Ravindra Kumar says:

    Me and MY Wife has opened APY in SBI. can we get pension both after the 60 Years?

    Me mention nominee name is my wife name and My wife mention nominee me, is that correct ? if it is not correct than can we change the nominee name as my child in future ??

    Please confirm
    Thanks

  2. Jagdish says:

    My self Jagadish Kumar, I am banker i have planned to take an customer meet with an subject of APY scheme. I need few quality clarifications for my below questions before explaining to customers so that it will help both customer & bank.

    Suppose Mr A.. have enrolled in APY scheme for Rs 5,000/- pension on 22 Feb 2017 & he will be an bachelor & have nominated his mother as nominee & same nominee will be nominated in Saving Bank account.

    Mr A.. got married after 5 years.

    My Questions are

    1. If he dies after 6 months due to accidental/in natural cause in how many days will pension starts to nominee.

    2. Is their any minimum years of contribution for receiving pension to nominee on event of death of subscriber.

    3.On the event of accidental death of both subscriber & nominee before 5 years(before marriage) on same date who will receive the scheme benefits.

    4.After death of subscriber (before marriage) nominee will receive pension till her death. After the death of nominee who will receive Corpus amount.

    4.How will nominee en-role the person for receiving Corpus amount ,What is the procedure ?

    5. What is the procedure for claiming pension amount by spouse ?

    6. After marriage wife will receive pension, if nominee (mother) is expired who will receive corpus amount on event of death of spouse.

    7. If wife expired and in how many days Nominee will receive corpus amount ?

    8. What is the procedure to change nomination in APY scheme ?

    9. Government contribution is Monthly, Quarterly,Half Yearly, Yearly ?

    10.What should be the average age nominee?

    Sorry for the trouble.

  3. ASHOKE KUMAR GHOSH says:

    CAN I REBATE U/S 80C THE AMOUNT OF ATAL PENSION YOJANA ?

  4. Syed Khan says:

    Will the pension amount paid post 60 years will be taxable?

  5. Sarita N says:

    Can I show this APY contribution to get Income Tax benefit under 80C? please confirm.

  6. Gaurang Mehta says:

    can i get any income tax benefits for this scheme ?

  7. Sunil Panchak says:

    I am tax payer & have taken APY scheme – completed 8 months already. I just came to know that this scheme is not applicable for tax payers. Now if i want to discontinue this scheme, can i get my money back invested in this scheme. if i can’t do it now, when can i discontinue it? Please advice urgently SIR. thanks Sunil P

    • ranjeet says:

      Tax payer को गवर्नमेंट कॉन्ट्रिब्यूशन नहीं मिलेगा बस ये सबके लिए अब सर्कार 80सीसीडी के तहत जैसे नपस में छुट भी दे रही है ।

  8. abul says:

    Tax Benefits in APY?

    The government made it very clear that people who pay taxes cannot avail Atal Pension Yojana. This means that payments made under this scheme will not have any tax benefits. The reason is simple! Those who do not pay taxes are in of no need for tax benefits and hence, no such provision.

    • Manoj jaiswal says:

      Please read below

      Government co-contribution is available for 5 years, i.e., from 2015-16 to 2019-20 for the subscribers who join the scheme during the period from 1st June, 2015 to 31st December, 2015 and who are not covered by any Statutory Social Security Schemes and are not income tax payers.

      For tax payer Government co-contribution would not be available .That’s it. Tax payer can also join the APY.
      Let me correct with proper authorized link if i am wrong.

      Now my question is Tax Benefits in APY? is it come under 80CCE or 80 CCD?

  9. Anshuli Tiwari says:

    I joined Apy
    My age. Is 28
    Due to bank default my date of birth is 23/04/1980 but my actual date of birth is 23/04/1987
    Due to such mistake done by bank my apy deductibles amount is Rs 902 PM instead of Rs 485 pm.. What should I do for refund and renew of Apy

    My adhaar card is linked with apy and that document have a record of my actual dob ie 23/04/1987

  10. Srikanth Iyangar says:

    I opened an APY account on 02-Nov-2015. After opening they allotted a PRAN Number to me. Now I want to open a NPS account for tax saving purpose. Is it allowed to open a NPS account with existing APY account?

  11. Kkchapeyar says:

    If the dies before attaining age of 60 years. Whether nominee will continue his contribution or what amount guaranteed corpus fund will be return to the nominee.

  12. Mahesh Krishna Ambekar says:

    Dear Sir,
    Can we claim the amount of contribution for tax rebate under 80C.

    Now I am not paying the TAX…..Because I have some Insurance bond, mediclaim etc. So, I am not paying the TAX…After some years My salary will increase so that time I need to pay tax and I have PF account is deducted from private office. Please sagest me…What I need to do.

    Regards,
    Mahesh Ambekar

  13. Heman says:

    Dear Sir,
    Can we claim the amount of contribution for tax rebate under 80c

  14. Rohiniviswanathan says:

    Can i join this scheme now. I want to enroll my daughter also in this scheme. Fo r that shall i pay the premium from my sb a/c instead of her.

  15. Savita.Kambli says:

    Now I am not paying the TAX…Because I have some Insurance bond, rent paying So, I am not paying the TAX…After some years My salary will increase so that time I need to pay tax and I have PF account is deducted from private office. Please sagest me…What I need to do.

    Already me and my husband has opened APY in SBI. Is it good or not or we need to stop it (Because after this government will not rise these).

    Please reply…or mail me.

  16. Savita.Kambli says:

    Hi I am working in one of the private company. They are deducting the PF in every Month. So, I am eligible for APY.

  17. Anshul Modi says:

    How do I opt for government co-contribution? I have already opened APY account few months back but the bank had not asked for this particular detail.

  18. KANAKARAJU H says:

    I have enrolled in APY scheme and paying Rs.1196/- per month. This amount can I get any tax rebate under section 80 C. Please reply me.

  19. ravi chandra says:

    hi sir i subscribed for apy and i recieved acknowledgment number for my mobile no.but amount not debited in my account

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