PPF Issues

pompom 16
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I can transfer money from my SBI Savings account to my PF account as both are available under the same Login. I will get the PPF passbook updated later. However, is PPF copy sufficient proof for tax exemption as I have noticed sometimes companies ask for a copy of the challan. Please advise.

Second problem is that I changed the nomination on my PPF account from my 1st wife to my 2nd wife. They just asked me to fill a pre-historic paper based form. There is no updation on the pass book. In the event of my death, how can my wife claim the PPF funds?

ppf-statement nomination-change ppf-passbook ppf
1 Answers

PPF passbook copy should be enough proof for tax exemption. As online options to deposit are on rise, this should be acceptable to employers. ICICI bank have also started PPF accounts so even their PPF account statement should work instead of passbook and challan.

Regarding nomination, you should get a written confirmation from bank for change in nomination. It should also be amended on existing passbook. You may even get a duplicate passbook with updated infromation(you may be charged Rs 100 for this).

Pankaj Batra5212
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