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| Public Provident Fund |
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| Public Provident Fund |
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| ELIGIBLITY FOR OPENING ACCOUNT 1968 |
| The scheme is open to Individuals and account can also be opened on behalf of minor child as a natural / legal guardian, on behalf of HUF , on behalf of an association of persons or a body of individuals. |
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| SUBSCRIPTION |
| Minimum amount Rs.500/- and maximum Rs. 100,000/- per annum. The number of installments in a financial year should not exceed 12. |
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| PERIOD |
| Minimum period is 15 years and can be extended in a block of 5 years. |
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| RATE OF INTEREST |
| Presently, 8.6% p.a. however, subject to change as per Govt. Notification from time to time. |
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| WITHDRAWAL FROM THE FUND |
| Partial withdrawals are allowed after the expiry of 5 financial years. Entire amount can be withdrawn after completion of 15 years. |
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| LOANS |
| After the expiry of one year but before the expiry of 5 years from the end of the year in which initial subscription was made, a loan of 25% of the credit balance at the end of the second year immediately preceding the year in which the loan is applied may be availed of by the subscriber. |
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| NOMINATION |
| Nominations of one or more persons are allowed except in the account opened on behalf of the minors. |
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| PREMATURE WITHDRAWAL |
| No withdrawal is permitted before the expiry of 5 years. |
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| TAX CONCESSIONS |
- Interest on PPF / withdrawal from the fund is exempted from Income tax
- Balance held in PPF account is totally exempt from wealth tax.
- Deposits in the name of wife/minor children will also qualify for deduction of section 88 of Income Tax Act, 1961
- The balances under PPF are not subject to court attachment.
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| Product Testimonial |
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| Quick Links |
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 | | Link To: Union Gold Coins |
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