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What is the maximum amount of fund deposited under the Public Provident Fund?

What is the maximum amount of fund deposited under the Public Provident Fund? Correct Answer 1.5 lakhs

The correct answer is 1.5 lakhs.

Key Points

  • The Public Provident Fund is a savings-cum-tax-saving instrument in India, introduced by the National Savings Institute of the Ministry of Finance in 1968.
  • A minimum yearly deposit of Rs. 500 is required to open and maintain a PPF account.
  • It is a savings-cum-tax-saving instrument in India.
  • The maximum amount that can be deposited in a financial year is Rs. 1.5 lakh.
  •  It is a 15-year scheme, which can be extended indefinitely in a block of 5 years. 

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