about ppf account

amitv123 1
Viewed 1236

Hi Pankaj,

I have started PPF contribution in year 2000 and could not continued after 2002.

will it be any fine associated with my PPF a/c, as it is not in continuation. Do I need to restart on same PPF to get the money after 15 year.

How I can get my all contributed money with interest.

Pl. advice .

Thanks in advance

discontinued-account ppf-account provident-fund ppf
1 Answers

If minimum amount of Rs 500 is not deposited in financial year, account would be classified as discontinued account. Interest would however continue to accrue.

You can make the account regular by paying penalty of Rs 50 per default year. Also Rs 500 per default financial year would need to be contributed to the account.

Pankaj Batra5212

Hi Pankaj,

Thanks for your advice...

I would like to know one more point. If I did not pay anything either fine or min contribution of Rs 500 or fin of Rs 50.

would I receive total money deposited in my a/c with interest after 15 year or would be any fine charge on my total balance.

As of now, it is completed 13 year, Can I close my PPF a/c and withdraw money now or after 15 year.

Thanks

Amit

amitv123•

At the end of term you would be paid balance with interest after deduction of min contribution fine.

Pankaj Batra•
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