7 Replies to “Can anyone invest money regularly in ppf account even if that person is not working?”

  1. Yes, anyone can open PPF account. However, there are rules related the minimum, maximum deposits per year, witthdrawal limits, etc.

  2. You should know the difference between EPF/PF and PPF.

    The Employee Provident Fund (EPF) or Provident Fund (PF) as it is normally referred to, is a retirement benefit scheme that is available to salaried employees. Under this scheme, a stipulated amount (currently 12%) is deducted from the employee’s salary and contributed towards the fund. This amount is decided by the government. The employer also contributes an equal amount to the fund. However, an employee can contribute more than the stipulated amount if the scheme allows for it. However, the employer is not obligated to pay any contribution over and above the amount as stipulated.

    The Public Provident Fund (PPF) has been established by the central government. You can voluntarily decide to open one. You need not be a salaried individual, you could be a consultant, a freelancer or even working on a contract basis. You can also open this account if you are not earning. Any individual can open a PPF account in any nationalised bank or its branches that handle PPF accounts. You can also open it at the head post office or certain select post offices. The minimum amount to be deposited in this account is Rs 500/- per year while the maximum amount you can deposit every year is Rs 70,000/-.

    Hope this helps.

  3. Ofcourse yes. If she invests below the taxable income. If it crosses taxable income, then she may have to file income tax return and disclose source of income. She can earn something in the nature of pocket money also.

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