Karthik Bhaktha (CA-Student) (126 Points)
13 January 2015Can anyone please tell me about investing in NPS.(National Pension Fund)
is it profitable in future than PPF (Public Provided fund )
And NPS is taxable after Maturity where as PPF is not.
So can any good hearted person explain me about this please...!!!
Vineet Goyal
(Assistant Manager - Finance & Accounts)
(702 Points)
Replied 21 March 2015
You can read about NPS and PPF here. NPS is one of the worst sheme ever.
NPS - https://financeandtaxhub.blogspot.in/search/label/NPS
PPF - https://financeandtaxhub.blogspot.in/search/label/Public%20Provident%20Fund%20%28PPF%29
Nishu Jain
(MBA)
(21 Points)
Replied 21 March 2015
You have to open an account in State Bank of India or any other designated branch or any head Post Office of the country with your name by filling up a form. Nomination facilities are available. Public Provident Fund (PPF) is a fifteen year scheme. You have to make at least one deposit per year in order to keep the account active; subject to a maximum of twelve deposits in a year. You can make a maximum of one deposit per month. Partial withdrawal of your deposit at the end of the sixth year and onwards is allowed subject to certain conditions. The minimum amount required is Rs.1000/- to open an account.
PPF is considered as one of the best saving devices for any individual for future security. Its interest varies according to the guidelines of the government. Now it is 8% p.a. compounded monthly. Interests earned in this account are absolutely tax-free. The deposits are also free from all encumbrances. Even if you are declared as bankrupt by any legal authority, they cannot attach your PPF account balance.
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