What Documents Are Needed for PPF Account in Post Office?

 

A Public Provident Fund (PPF) account in a post office is a secure and tax-saving investment option under Section 80C of the Income Tax Act, 1961. Opening a PPF account in a post office requires submitting specific documents to verify identity and address details. Here are the key documents required:

 1. Identity Proof

- Aadhaar Card

- Permanent Account Number (PAN) Card

- Voter ID

- Passport

- Driving License

 2. Address Proof

- Aadhaar Card

- Passport

- Utility Bill (electricity or telephone bill not older than 3 months)

- Bank Passbook with statement (with updated address)

 3. Photographs

A recent passport-sized photograph is required.

 4. PPF Account Opening Form

An account opening form (Form A) is necessary, which can be obtained either online or at the nearest post office branch.

 5. Nomination Form

The account holder must submit a duly filled-in nomination form (if applicable) to nominate one or more individuals who can claim the balance in case of the account holder’s demise.

 Key Points:

• A PPF account in post office can be opened with a minimum deposit of ₹500, while the maximum annual investment limit is ₹1,50,000 (PPF limit).
• Deposits can be made in multiples of ₹50, either as a lump sum or in up to 12 installments during a financial year.
• Interest earned on the balance of a PPF account in post office is calculated annually and is completely tax-free.

 Disclaimer:

Investing in the Indian financial markets involves risks. Individuals must analyze all pros and cons before making any financial decisions.

 Summary

To open a PPF account in a post office, the applicant requires identity proof (like Aadhaar or PAN Card), address proof (such as a passport or utility bill), passport-sized photographs, and Form A. The deposit ranges from ₹500 to ₹1,50,000 annually, which is exempted under the Income Tax Act, Section 80C. Nomination details can also be submitted through the nomination form.