PPF: People investing in the PPF scheme should keep in mind that a maximum of Rs 1.5 lakh can be invested in the PPF scheme in a financial year. However, people are required to invest a minimum of Rs 500 in a PPF account in a financial year.
PPF Balance: Many schemes are being run by the government for the benefit of the people. Through these schemes, steps are taken for the benefit of the people. At the same time, people can also save and invest through these schemes. One such scheme is Public Provident Fund. Through this scheme, people can take the benefit of tax exemption along with savings and investment. However, if money is invested in this scheme, then people should keep one thing in mind, otherwise they may face problems. Let’s know about it…
PPF scheme is a long term scheme. Maturity benefit is available in this scheme after 15 years. In such a situation, people have to invest money in it every year. At present, interest is being given at the rate of 7.1 percent on the investment made in PPF account. However, if a person does not invest money in this scheme in any financial year, then he may face problems and the PPF account may become dormant.
public provident fund
Actually, people investing in PPF scheme should keep in mind that a maximum investment of Rs 1.5 lakh can be made in PPF scheme in a financial year. However, people are required to invest a minimum of Rs 500 in a PPF account in a financial year. At the same time, tax benefit of up to Rs 1.5 lakh can also be availed through this scheme under Section 80C of the Income Tax Act under the old tax regime while filing ITR.
If a person does not invest even 500 rupees in a PPF account in a financial year, then people may have to bear a lot of loss, because due to this the account becomes dormant and the interest received on the PPF account is also affected. Also, if you have to pay fees to get the dormant account started again. In such a situation, people must deposit the minimum investment amount in the PPF account every financial year.