Curious About PPF? Discover Its Benefits and How to Start Investing in It

Dear All,

Could you please let me know what PPF is and what benefits we have in it? Also, what would be the process to invest in PPF?

Thanks & Regards,
Srihari

This is called Public Provident Fund. This scheme offers Income Tax exemption. This scheme is either run by the Post Office or a Bank; you have to enquire with them. You don't need to be a member of the Provident Fund or to become employed. Even if you are unemployed, you can participate in this scheme.

Partho Ghosh

Hi,

PPF stands for Public Provident Fund. This is a long-term investment for a period of 15 years. The amount of investment could range from Rs. 500 to Rs. 70,000.

Please refer to the link below for more information: [Public Provident Fund - PPF](http://www.traderji.com/mutual-funds-discussion-forum/1622-public-provident-fund-ppf.html)

Regards,
Sandhya

Dear Mr. Shri Hari,

PPF stands for Public Provident Fund Scheme. The PF scheme was initiated for employees. PPF is designed for the public, not limited to those employed anywhere; employees covered by PF can also participate. This scheme is available at Post Offices as well as SBI branches, offering a high level of security. You may contact the in-charge of the Post Office or SBI branch for further information.

By G. Ramanadhan

Please let me know one thing. I opened a PPF account in Kashipur (Allahabad Bank). Now, I transferred to Kanpur, and I want to transfer my account to Kanpur. However, in Kanpur, no branch of Allahabad Bank has a facility for PPF accounts. Now, what should I do.

Regards,
Anil Mishra

Hello, learned HRians,

Could anyone provide a brief note about CPF (Contributory PF) in this forum? Earlier, there were many valuable discussions about EPF and PPF in this HR forum. However, most individuals are not aware of CPF and its applicability with rules.

Thank you,
Biswajit Pani
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Just let me know about management development programs in the private as well as in the public sector.

This info is really helpful... Thanks, Shalini.

Hi Anil,

Regarding the transfer of PPF, as you are residing in Kanpur, PPF is treated as a Government Account instead of a Bank or Branch Account. Therefore, the PPF account in Allahabad Bank can be transferred to any Bank Account that offers PPF Accounts. You should inquire with the banks in your area to confirm if they provide PPF Accounts. Almost all SBIs and their subsidiaries offer these accounts.

To initiate the transfer, you will need to submit a request letter to the nearest Bank requesting the transfer of the PPF account to their branch. The receiving Bank will then forward the letter to Allahabad Bank for processing. The account will be closed at Allahabad Bank, and the funds will be transferred to the specified bank. The new bank will open a PPF account with a new account number, carrying forward the old balance and interest. You can then continue to invest in the PPF account.

Regards,
Sandhya

PPF is a tax-saving instrument with a 15-year lock-in period, offering a 7% rate of interest. You can deposit a minimum of 500 and a maximum of 70,000 per year through a bank or post office.