Public Provident Fund – Frequently Asked Questions

What documents are necessary in the opening of a PPF account?

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  • Account opening Application form (Form A).
  • A copy of the PAN card.
  • Proof of identity and residence – passport, power bill, elector’s card etc.
  • Photograph – Passport-size.

Can I open two or three PPF accounts for my own use?

No. An individual is only allowed to open a single PPF account, not more.

Can I open a PPF account on behalf of a minor?

Yes. If you are the father or the mother of a minor you can open a PPF account for on behalf of the minor in your name. However it has to be either of the parents and not both.

Grandparents are only allowed to open a PPF account in the name of a minor only in a case the minor doesn’t have an existing parent.

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How much am I allowed to invest in PPF account on a yearly basis?

The lowest amount you can invest in a public provident fund per year is 500 rupees. The highest investible amount on the other hand is 150,000 rupees per year.

How much do I earn as interest on a PPF account?

The interest rate varies from year to year depending on the performance of the fund. The current interest rate is 8.7% per annum.

What is the maturity period for a PPF account?

The maturity period of a Public Provident Fund account is 15 years.

Can the maturity period for a PPF account be extended?

Yes, the maturity period can be extended by another five years following the end of the previous maturity period.

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When do funds held in a PPF account become withdrawable?

Funds held in a PPF account can be withdrawn five years after the account was opened. This is done by filling Form C at the post office or bank. The maximum amount withdrawable is half of the balance that was in the account in the previous year after all deductions such as loans issued are made. Only one withdrawal can be made in a year.

Is it possible to close a PPF account prior to the date of maturity?

No. The only exception to this is in the event of a member’s demise in which case an appointed heir or nominee can apply to have the account closed upon submission of the requisite documents.

What are the consequences for missing a deposit?

For every year you fail to deposit at least 500 rupees a fine of 50 rupees will be slapped on you.

Can I transfer my PPF account from one financial institution to another?

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Yes, it is perfectly legal to transfer a PPF account either from one bank to another or from one post office to another. For this to happen you will need to visit the post office or bank or where the present PPF account is held and apply for it to be transferred to another bank or post office of your choice. Then the current post office or bank where the account is held will arrange to transmit requisite documents and the outstanding balance in your PPF account to the new bank or post office that you wish to transfer to.

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EPFO Delhi                             EPFO Maharashtra            EPFO Bihar

EPFO Tamil Nadu                 EPFO  Karnataka                EPFO Telangana

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EPFO Manipur                     EPFO Gujarat                        EPFO Uttarakhand

EPFO Nagaland                   EPFO Goa

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