PPF Rules: If you have invested in PPF (Public Provident Fund) Scheme, you should know that the Department of Economic Affairs under the Ministry of Finance has issued an official memorandum in which a key The date has been announced. It is important to know the rules of PPF 2019 to avoid any hindrance to the return on your account. To continue benefiting from the Retirement Savings Scheme offered by the Government of India, you need to know about PPF and its changes in principles.

What is PPF Rules 2019?

According to PPF Rules 2019, no person can have more than one such account in his name. If a person has opened more than one account, his account will be closed. No interest will be paid to such people.

What happens next

The memorandum said that PPF accounts opened after December 12, 2019 under the same name should be closed immediately and no interest should be paid on them.

Think of change that way

Citing an example case, the department said, “The said account was opened under PPF Rules, 2019 and is therefore not eligible for regularization. Account without any interest and payment of PPF Rules, 2019.” It could be shut down immediately. ” If any one or all PPF accounts are proposed to be merged or merged, if any of the PPF accounts are opened on or after 12.12.2019, such accounts will be closed without any interest payment. And there will be no suggestion. Such PPF accounts were sent to the Directorate of Posts for integration.

Offer not sent.

The department also said that it would not consider any request for merger of accounts, therefore people should not send any proposal under PPF Rules, 2019 which was proposed for merger of PPF accounts. Has gone