PPF(Public Provident Fund): All about PPF Tax and How to withdraw PPF

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Published on 14 Aug 2019 / In Salary Class

PPF(Public Provident Fund): All about PPF Tax and How to withdraw PPF

PPF: Long Term Debt Scheme run by Govt. of India

Today We will discuss about PPF, Tax and How to Withdraw PPF?

Anyone can open either Salaried or Self Employed or any other Category can open the PPF Account.
1. How to Open
• Through SBI or any Nationalized Banks.

2. Who Can Open
• Any Individual.

3. Who Can’t Open
• NRI are not allowed to open PPF Account but if someone open a PPF Account while he is
a resident of India but subsequently become NRI he shall be allowed to continue
Investing in his Account.

4. You can have only One PPF Account

5. You can’t open joint Account.

6. Mini or Mix Deposit
• 500 Minimum or 1.5L Maximum yearly.
• @7.6 Maximum Deposit 12 Times.

7. Payment Mode
• By Cheque, DD and NEFT.

8. Continuing PPF Account after 15 years
• You can withdraw entire amount after 15 Years.
• If you want to continue the account after 15 Years then you can go with 5 years block.

9. PPF Account for Minor
• Can Open account as a Guardian and on behalf of Guardian you can Operate the
account.

10. Loan or PPF
• 3rd Financial year excluding the year of Deposit.

11. Tax Benefit u/s 80C
• No Tax on Interest
• Interest will be Free.

12. PPF Withdraw
• Withdraw Possible only after completing 6 years it means in 7 year you can withdraw the
amount easily.
• 50% Limit of amount can be withdrawn which is deposited in starting 4 Years.
• Able to withdraw 1 Time in a year.

13. How to Withdraw – Form C
3 Parts
• Declaration – Have to Inform about PF Number, How much Amount you want to
withdraw or from how many years you are Operating PPF Account and What is the
Purpose to Withdraw the Amount?

• Official – Have to provide normal information about When Started the Account and how
much is deposited?

• Bank Detail – Have to mention the details of Bank where you would like to transfer the
amount?
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