PPF Investment Limit increased to 1 lakh from 1.12.2011 and  Interest on loan against PPF will cost 2 percent extra

Public Provident Fund (Amendment) Scheme, 2011 – Amendment in paragraphs 3, 11 and Form A

NOTIFICATION [F.No. 1/9/2011-NS-II], dated 25-11-2011

In exercise of the powers conferred by sub-section (4) of section 3 of the Public Provident Fund Act, 1968 (23 of 1958), the Central Government hereby makes the following further amendment to the Public Provident Fund Scheme, 1968, namely :-

1. (1) This Scheme may be called the Public Provident Fund (Amendment) Scheme, 2011.

(2) It shall come into force on the 1st day of December 2011.

2. In the Public Provident Fund Scheme, 1968, –

(i) in paragraph 3, in sub-paragraph (1), for the letters and figures “Rs 70,000/-“, the letters and figures “Rs 1,00,000” shall be substituted;

(ii) in paragraph 11, in sub-paragraph (2), for the words “one per cent, per annum”, the words “two per cent, per annum” shall be substituted;

(iii) in Form-A, in paragraph (iv), for the letters and figures “Rs 70,000/-“, the letters and figures “Rs 1,00,000” shall be substituted.

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