Jan 112016

Can We Change Name In PPF Account?

Public Provident Fund or PPF is a plan of the Government of India, confined under PPF Act, 1968. In brief, the Public Provident Fund is a central government sponsored, long term small investment scheme that was first begun by the Central Government on the grounds that it needed to give retirement security to independently employed people and workers of the private sector.

Name Change in PPF Account

At present the Public Provident Fund is the most popular investment plan of the Indian citizens. In the event that you are enthused about a sheltered amount, a decent return rate, tax cuts (on the cash contributed, tax free premium and tax free full maturity amount) and want a long time investment plan, then the Public Provident Fund is best for you. Bear in mind that you should be restrained with the Public Provident Fund to benefit as much as possible from it, furthermore meet your liquidity requirements somewhere else, in light of the fact that with this plan your cash will be blocked for a long time.

The PPF likewise offers credits against your account that can assist you amid events such as a wedding, facilitate education of your kids, and so forth. Over all, it gives you a significant serenity as your cash is safe.

One of the main important things to know about PPF is the process of changing name. Many people want to change name in their account due to marriage or some other reason. Given below are steps given to change name in a PPF account, which should be read properly.

Write an Application: you must write a specific application portraying the solicitation, reason and documents attached.

Form: you will be given a form, which is used only to change name and address.

PAN Card: You must provide a Copy of your PAN card.

Proof of Address: Copy of your Address proof, DL, Voter Card, Passport, Aadhar Card.

Certificate of Marriage: Copy of your marriage Certificate.

All documents must be attested by the applicant.

You must carry all the original documents while submitting the application.

Submit the above applications at the PO in which you got the PPF account opened. Your PPF account is not centralized; consequently application will be gotten at your branch which opened your record. Extensively, the PPF record is something that is very beneficial to have, particularly for those people who don’t work in the public sector and henceforth don’t possess an EPF account.

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