Frequently Asked Questions on Public Provident Fund (PPF)
Frequently Asked Questions : 1. What is the PPF Scheme? Public Provident Fund (PPF) scheme is a long term investment scheme backed by the Government of India, framed under the Public Provident Fund Act, 1968. It offers safety with attractive interest rate and returns that are fully exempted from Tax. 2. Who can open account under PPF scheme? a. Individual or individual as guardian of a minor can open the account. (account cannot be opened in Joint names). b. Only one account can be opened by an individual in his/her own name. 3. Who cannot open PPF account? a. HUF are not eligible. b. Non Resident Indians are not eligible. 4. What is the Limit of Subscription to a PPF account? Minimum subscription of Rs.500/- and maximum of Rs.1, 50,000/- can be made in lump sum or in 12 instalments per financial year. (The subscription limits stands enhanced to Rs. 1,50, 000/ per year w.e.f. 23.08.2014) 5. When does a PPF account mature and can PPF account ...









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