The Narendra Modi-led central government has taken a major step to ensure social security for the common people. The government has notified a new rule related to the Public Provident Fund (PPF) for this. According to the new rules, the amount lying in the PPF account cannot be seized in any case. According to the new rules, the amount lying in the PPF account will not be seized even on the court's order to recover any debt or liability of the account holder. The Public Provident Fund Scheme 2019 has come into force with immediate effect. It has replaced all the old PPF rules.

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According to the new rules, after the completion of 15 years after opening the PPF account, that is, after maturity, you will be able to deposit money in PPF for the next five years.

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Under the new scheme, the amount deposited in the PPF account can be withdrawn anytime after five years of opening the account. With this, there will be an option to withdraw your 50 percent amount at the end of the fourth year. Anyone can open the account by filling the application through Form-1. If a person is a guardian of a minor or a person suffering from a mental disorder, he can open an account in his name. However, there is no provision to open a joint PPF account.

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A minimum deposit of Rs 500 and up to Rs 1.5 lakh can be deposited in a financial year. If you have your own PPF account and you have opened an account in the name of a minor too, then this amount should not be more than 1.5 lakhs per annum.

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