If an investor fails to deposit the minimum account of Rs. 500/- in any financial year, the account will be treated as discontinued.

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The investor may revive the discontinued account by payment of Rs. 50/- for each year of default along witharrear subscription of Rs. 500/- for each year.

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In case of death of guardian, the account of minor remains operative and a new account need not be opened. The surviving natural guardian or a guardian appointed by a competent court may continue the account of minor after producing the necessary guardianship certificate.

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No, the guardian is not entitled to the payment of the balance. The balance in such cases is payable to the legal heirs of the minor in accordance with Section 8 of Public Provident Fund Act and para 12(6)(ii) of the Public Provident Fund Scheme.

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An investor has the following options:                                                                                    1. Close the account and withdraw the entire amount; or                                                        2. Extend the account without fresh deposits; or                                                                    3. Extend the account with fresh eposits.

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The account will automatically get extended for a block period of 5 years without fresh deposits. The invesor will continue to earn interest.

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The balance in the account will keep earning the applicable interest rate and any amount of withdrawal can be made during the extended period. However, only one withdrawal will be allowed in each financial year during the extended period. Once the account is continued without deposits, for more than a year, the subscriber cannot opt again to continue the account with deposits for a block period of 5 years.

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The new deposits will not earn any interest and the benefits of Sec. 80C of the Income Tax Act will not be available.

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The investor can withdraw upto 60% of the balance at the commencement of the extension period. This rule applies to next block of 5 years extension as well.

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Yes.

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A PPF account can be opened by resident individuals and individuals on behalf of minors.

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