Newsworthy: Post Office PPF Account! Create this account for your kids to benefit from higher profits than you do.

 Newsworthy: Post Office PPF Account! Create this account for your kids to benefit from higher profits than you do.

Public Provident Fund Account News: The government is now allowing your child to open a PPF account (PPF Program). Similar to how PPF offers various benefits to seniors. Additionally, youngsters gain a lot from this, as well.


PPF Scheme Most Recent Changes: The central government runs a number of government programmes through which you can gain greatly. We will discuss one such government programme today that will really help your child. Inform your youngster that the government offers PPF accounts (PPF Program) as a benefit. Similar to how PPF offers various benefits to seniors. Additionally, youngsters gain a lot from this, as well. For your child, you can also open a Public Provident Fund account.

maximum investment amount

You can invest in this scheme for up to 15 years and earn interest of up to 7.1% on sums between Rs. 500 and Rs. 1.5 lakh every year.

Who may open a child account?

The account can only be started by the child's parents, and they are the only ones who can make investments in it. Once the child turns 18 and the investments are tax-free, the youngster may open the account themselves.

how to set up a PPF account for kids

You must first visit the bank or post office that is closest to you and complete the form for opening a PPF account there. Now, fill out this form with all the necessary documentation and information.
>> The form must be submitted along with all required documentation. Your application will then be carefully reviewed, and your account will be created.

what records are required

You will need the required KYC, the child's photo, and the child's age certificate, which includes their Aadhar card and birth certificate, if you also plan to open their PPF account.

Get a tax exemption

Investors with PPF accounts are exempt from paying taxes. Customers benefit from tax exemption under 80C under this programme. The money paid at the conclusion of the policy's term and the interest earned on this government programme are both totally tax-free. There are no taxes due for this.