Resected members, Can you please advice on the combined amount I can deposit every year in (PPF account for myself + PPF account for my minor child)?
Requesting you to cite exact sentence(s) from PPF act in support. The combined limit is 1.5L as per some online resources, but this was not clear to me by looking at the act. The definition of subscriber was ambiguous.
From India, Bengaluru
3Requesting you to cite exact sentence(s) from PPF act in support. The combined limit is 1.5L as per some online resources, but this was not clear to me by looking at the act. The definition of subscriber was ambiguous.
From India, Bengaluru
Extract from THE PUBLIC PROVIDENT FUND SCHEME, 1968
[Issued vide Government of India, MOF (DEA) Notification No. GSR 1136 dated
15.6.1968 and further amended from time to time]
3. Limit of subscription:- (1) Any individual may, on his own behalf or on
behalf of a minor of whom he is the guardian, subscribe to the Public
Provident Fund (thereafter referred to as the fund) any amount not less
than ` 500 and not more than ` 1,00,000 in a year.
(3) The limit of deposit of Rs. 1,00,000 in a year by an individual in his self
account and accounts opened by him on behalf of his minor(s) of whom
he is the guardian is combined under rule 3 (1) of the Scheme.
Rs100000 has been increased to 150000.
From India, Pune
[Issued vide Government of India, MOF (DEA) Notification No. GSR 1136 dated
15.6.1968 and further amended from time to time]
3. Limit of subscription:- (1) Any individual may, on his own behalf or on
behalf of a minor of whom he is the guardian, subscribe to the Public
Provident Fund (thereafter referred to as the fund) any amount not less
than ` 500 and not more than ` 1,00,000 in a year.
(3) The limit of deposit of Rs. 1,00,000 in a year by an individual in his self
account and accounts opened by him on behalf of his minor(s) of whom
he is the guardian is combined under rule 3 (1) of the Scheme.
Rs100000 has been increased to 150000.
From India, Pune
Thanks for quick clarification, sir. Where can I find the original rule 3 (1) of PPF scheme?
From India, Bengaluru
From India, Bengaluru
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