{ 40 comments… read them below or add one }

Venkat September 29, 2010 at 8:30 am

I am holding PPF account since last 8 years. Defaulted last year.From above input I can understood, it can be stremalined by paying some penalty and subscription due.

But what I want to know is subscription amount can be increased from present level to the maximum permissible level.

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gkdoda September 29, 2010 at 8:36 am

Yes, you can increase the amt. anytime you want.
Admin

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Asish_dutta January 27, 2011 at 6:06 pm

I

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Ritesh October 18, 2010 at 9:39 am

I am an NRI since 2001. I have opened my PPF account in 1988-89. I made an application for extension in March 2003 and continued my account. In February 2008 and applied for another extension for a block of 5 years. Subsequently MOF (DEA) GSR 585 (E) dated 25/7/2003 was passed.

I am getting mixed advise. Some say that I can not extend my PPF account under MOF (DEA) GSR 585 (E) dated 25/7/2003. But the authorities where I have an account said that this rule is not applicable to old PPF account holders and can extend the account. Thus knowing that I am an NRI, they permitted the extension in 2008. Can you please let me know if this is correct. I do not want to get penalised by not getting the interest on maturity. Also would appreciate your advise on this matter.

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gkdoda October 18, 2010 at 3:01 pm

You can extend the account. Provided that if a resident who subsequently becomes Non Resident Indian
during the currency of the maturity period prescribed under Public Provident
Fund Scheme, may continue to subscribe to the Fund till its maturity on a Non
Repatriation Basis.

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Ritesh October 20, 2010 at 9:36 am

Thanks for the clarification. I understand that extension allowed to my account in February 2003 is justified eventhough I was an NRI and was allowed to continue until its mturity in March 2008. But don't you think that the extension made to my account for another 5 year block period from April 2008 was not correct. Please advise.

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gkdoda October 20, 2010 at 10:36 am

No, that was also fine. The new rules, whatever they are, are applicable to new account open after that.

Hope it will help you.
Admin

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Kanchan January 3, 2011 at 8:23 am

can I open a fresh PPF account? i closed the account a year back post maturity of 15yrs?

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gkdoda January 4, 2011 at 6:59 am

You could have renew your existing PPF account for another 5 years. But now, you need to open a fresh PPF account.

Hope it will help you.
Admin

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Girish January 21, 2011 at 2:48 am

I have one query.
My wife is dependent on me.
So whether I can get tax benefit on the PPF investment done on her name?

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gkdoda January 21, 2011 at 4:51 am

No, you can not take benefit for investing in another adult name. However, you can take that benefit if you invest in your minor child name.

Hope it will help you.
Admin

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Asish_dutta January 27, 2011 at 6:14 pm

I've opened my PPF a/c on 26/6/2007. presently i have stop giving subscription from last6 month. Now I have require money how can i get the same ?

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gkdoda January 28, 2011 at 6:14 am

The withdrawal rule of PPF is “A withdrawl is permissible every year from the seventh financial year of the date of opening of the account, of an amount not exceeding 50% of the balance at the end of the 4th proceeding year or the year immediately proceeding the year of the withdrawal, whichever is lower, less the amount of loan if any.”

Since, you've not completed 7 financial year, you can withdraw your amount. However, you can avail loan on your account from post office. The rule of loan is at http://www.investmentkit.com/g

Hope it will help you.
Admin

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Vasrinivasan March 22, 2011 at 3:10 pm

I understand that the senior citizen's savings scheme (SCSS) 2004 allows extension
of 3years after completion of 5 years maturity period. What is rule/GO related to this subject?
How long the post office can take to extend the period beyond the maturity period?

Dr. V.A. Srinivasan

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gkdoda March 28, 2011 at 6:11 am

There is no such information on number of extensions in SCSS as per official website of Indian Post office. They've specified info as :

No withdrawal shall be permitted before the expiry of a period of five years from the date of opening of the account. The depositor may extend the account for a further period of 3 years.
Post Maturity Interest at the rate applicable to the deposits under Post Office Savings Accounts from time to time is admissible for the period beyond maturity.
Hope it will help you.
Admin

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Pravin_anand August 31, 2011 at 9:31 am

Can PPF A/c gives interest after completion of 16 year with out extending the a?c ?

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gkdoda September 16, 2011 at 8:10 am

Please visit the link http://www.investmentkit.com/a… for detailed answer.
Admin

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Anilkumarkhunteta January 1, 2012 at 5:58 am

is it possible transfer ppf a/c from post office to any bank

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gkdoda January 5, 2012 at 10:02 am

Yes, that's possible. Just fill up the required forms in the bank and they will transfer your PPF account.
Hope it will help you.
Admin

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Bcbhowmick January 2, 2012 at 7:46 am
gkdoda January 5, 2012 at 10:03 am

You should have linked your PPF account with your bank for online investment. One has to sign some documents in the bank for the same. Next time, when you visit India, complete all such formalities, and then you can invest in PPF online.
Hope it will help you.
Admin

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Choudappa Bansode July 18, 2012 at 12:42 pm

Now minimum balance is required to deposit  is Rs.500/- maximum is Rs.1,00,000/-
present rate of interest is 8.8% w.e.f 14.12.2011
penalty on default subcription is Rs.50/- p.a.

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Pankaj August 6, 2012 at 8:35 pm

Can I close my PPF A/c in post office before maturity?
How much amt. I will get if I want to close the PPF A/c?

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V.JANAKIRAMAN October 13, 2012 at 10:04 am

I have a problem. A relation of mine started a PPF A/c at SBI Madras in 2003. While shifting to Bangalore the passbook was lost and could not be traceable.
So in March last year a new account was opened in the post office and deposits made for 15 months now.
Recently while searching; the pass book of the old account was found. As directed, the latter PPF at the post office was closed immediately.
During this period only one PPF account was used
The ceiling for deposit was maintained.
I am trying to revive the old account by paying the4 arrears and fines.
What should be the amount I should receive from the post Office; in addition to the amount deposited:-
Will I get Interest at PPF rates decided by the Govt. as only one PPF account was in use.in spite of premature closure? Else what is the interest I am eligible for
Can this amount be transferred to to the old account? If so how?
Kindly advise me at your earliest convenience.

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Bhakti Tanna August 28, 2012 at 11:31 am

Respected Sir,

I wanted to know that i wanted to open my sisters PPF A/C but she is in Pune pursuing her studies. So can i open up her A/C or her presence is needed for opening the A/C in Bank?

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admin August 28, 2012 at 12:27 pm

Your sister needs to sign application form and other required documents to open PPF account. You need to arrange her signature.
Admin

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HImanshu September 18, 2012 at 3:15 pm

Sir, is dere any funda of variation of interest in PPF.?
I have no clear my doubts regarding this. please explain.

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admin September 18, 2012 at 8:48 pm

The interest rate on PPF is offered by Govt. of India. So, you’ll get same interest whether you open PPF account in post office or bank. However, Govt. revises interest rate from time to time and the same is applicable to old and new investors.

Hope it will help you.
Admin

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AKC October 2, 2012 at 10:29 am

Hi,

Just wanted to know the latest withdraw and loan procedures in case of PPF account.

Looking forward to hear ASAP.

Regards:
AKC

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APJ December 14, 2012 at 2:51 pm

Dear Sir
I have a PPF account & I have opened another ppf account on the name of my daughter when she was minor.
Now she is major & account has been transferred on her name. I have been investing full amount of Rs 70000/- in both these accounts all these years and was accepted by post office.

I have been claiming tax benefit only for my account.

I understand that such a kind of investment is not possible ? Is it true ?
Now what will happen to minor account ?
Please guide.
Regards
APJ

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admin December 14, 2012 at 4:20 pm

Since, you were claiming tax benefit for only one account, you were doing right. There is nothing wrong in that. You can continue with your own account. Your daughter’s account will be now on her name only and now she can claim tax benefit on that.
Admin

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APJ December 20, 2012 at 3:32 pm

Dear Sir,
Thank you for the reply.
However post office is suggesting me that this investment on my daughter’s account is invalid as per their latest audit findings. And the interest paid so far is liable for recovery. Is this correct ?
Please advice what to do ?
Regards
APJ

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Michael December 20, 2012 at 3:27 pm

My father is a nominee in his brother’s postal ppf account. His brother died recently. The postal authorities insist that my father come personally to the post office to make the claim. My father is bed-ridden due to old-age related illness and lives in a different city. How can he then claim the amount?

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admin December 20, 2012 at 7:56 pm

The nominee must be present in post office with all required documents to claim the amount. There is no alternative for it. Get in touch with post master for help.
Admin

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VENKAT December 31, 2012 at 2:37 pm

I have transferred my wife’s PPF A/C from New Delhi , Ramesh Nagar Post Office to Chennai Tambaram Post Office. It seems to be now lost in transfer. I am currently following up at both ends. I want to know what happens to the deposit amount if neither Offices locate the Passbook.

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Mohammed Zaman February 13, 2013 at 6:02 pm

Can I keep a track of my PPF Account online.
It’s since 13 years I have been investing in PPF.
Pl reply.Thanks.

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c.h.tiwari February 20, 2013 at 12:46 pm

my brother died in sept.2012.He had purchased a nsc in 2010.When i can claim it?Right now or after maturity?pl reply early.

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S.N.Rao March 5, 2013 at 2:52 pm

Will postal department accept PFF A/C holders deposit by Cheques or DD’s. If so please name the receiver of Cheque or DD

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Ravindran Akshayalingam April 8, 2013 at 2:18 am

I have opened PPF account on 12.03.99 and paid 15 installments regularly. Last date of payment on16.08.2012 (FY 2012-13). Pl guide me about Date of maturity.

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King Prasenjit June 27, 2013 at 9:09 am

I want ppf form , but I don't find the form.

Reply

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