1. #1
    Unregistered

    Details of PPF and its benefits for a person working in a private firm?

    I work in a private bank and from last many months thinking for investment. My coworkers are suggesting me to invest in PPF. Please send me the details of PPF and its benefit.

  2. #2
    Chittaranjan Array
    Join Date
    Jul 2012
    Posts
    658

    Cool Re: Details of PPF and its benefits for a person working in a private firm?

    PPF public provident fund a/c.

    A person can open PPF a/c in any PSU bank and to post office,the rules and privileges are attached for the welfare of the employee are as follows.:-

    1.Any citizen can open this a/c for to get larger fund in future.

    2.An a/c holder is allowed to deposit max.Rs.70000/-pa.

    3.Now the PPF a/c carries 8.6% intt,

    4.PPF A/c and amount is tax free.

    5. Every person can avail tax exemption up to Rs.70000/- under I.Tax.act 80c.

  3. #3
    Chittaranjan Array
    Join Date
    Jul 2012
    Posts
    658

    Re: Details of PPF and its benefits for a person working in a private firm?

    Benefits of ppf is same for all those who open the account they get similar benefits as per their deposits withe the bank or post office.
    1.they are allowed to deposit rs.70000/-pa

    2.they avail 8.6% intt.on the deposit

    3.no tax is calculated or deducted on interests.

    4.it is a long term deposit an individual can open for 15 to 20 years.

    5.partial withdrawal from that a/c is available after 5 years.

  4. #4
    Sha Array
    Join Date
    Jul 2012
    Posts
    59

    Re: Details of PPF and its benefits for a person working in a private firm?

    PPF- Public Provident Fund

    It is small saving scheme which offers tax benefits,long term investment,loan on investment.

    Minimum amount of investment is 500 and the maximum amount is 70,000 at present.

    Interest rate on PPF account is 8%.

    Loan on PPF account can be taken from third to sixth year from the date of account opened.

    25% of money in the PPF account in previous two years can be given as loan on the third year.

    The loan should be repaid within 24 months.

    Second loan can be taken after repaying the first loan.

    PPF account matures after 15 years and it can be extended to further six years.


    Thank You.

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