Ppfaccount

Querist : Anonymous (Querist) 23 November 2011 This query is : Resolved
A private organisation employees member of Provident Fund Open a separate PPF account (Pubic Provident Fund). If he open PPf Account he show PPF Deposit account Money for Income tax purpose.

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Sailesh Kumar Shah (Expert) 23 November 2011
yes, he should show, if open ppf account. there is no legal bar to open account.

Sankaranarayanan (Expert) 23 November 2011
yes any one can open PPF account .

Guest (Expert) 23 November 2011
PPF is for open for the public. Employees also form part of common public. There is no bar for any employee to open a PPF account, if he wants to contribute more money in provident fund in additiona to EPF/CPF or GPF. Employer has to take in to account that contribution also for the purpose of allowing rebate admissible to the employee.

M.Sheik Mohammed Ali (Expert) 23 November 2011
yes i do agree

Rajeev Kumar (Expert) 23 November 2011
Yes i too agree

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