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Opening huf account

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 February 2013 Can huf open the ppf account?
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CA Suraj Lakhotia

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CA Suraj Lakhotia (Expert)
11 February 2013 What is the eligibility for investing under Public Provident Fund (PPF) Scheme, 1968?

A Public Provident Fund (PPF) account can be opened by resident Indian Individuals and individuals on behalf of minors.

Only one Public Provident Fund (PPF) account can be maintained by an Individual, except an account that is opened on behalf of a minor.

A Public Provident Fund (PPF) account can be opened either by the Mother or Father on behalf of their minor Son or Daughter; however the Mother and Father both cannot open Public Provident Fund (PPF) accounts on behalf of the same minor.
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