Non Resident Indians are not eligible to open an account under the Public Provident Fund (PPF) Scheme. Provided that if a resident, who subsequently becomes Non Resident Indian during the currency of the maturity period prescribed under Public Provident Fund Scheme, may continue to subscribe to the Fund till its maturity on a Non Repatriation Basis.

[MOF (DEA) Notification No GSR 585 (E) dated 25.7.2003]

An amendment was made to Rule 3 of PPF Scheme 1968 vide MOF Notification No. GSR 585 (E) dated 25.7.2003; Non Resident Indians are not eligible to extend/continue PPF account after maturity. It has been clarified by the Ministry of Finance that accounts opened under such category cannot continue beyond maturity; therefore any subscription made by the depositor is irregular and not entitled for interest. Amount deposited after maturity, shall be refunded to the account holder without interest.

[MOF letter F No. 3/4/2012-NS-II dated 16.7.2012]

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Tags : PPF (88) public provident fund (62)

0 responses to “Non Resident Indian not eligible to open PPF Account”

  1. Rawal Singh Bhati [hamira, jaisalmer] says:

    VSR MURTHY

    You may do Nothing , just wait for maturity and withdrawal the amount , whole amount will exempt from tax u/s 10(11)

    For further Querry
    Whatsapp 8963013175

  2. VSR MURTHY says:

    My son opened a PPF account when he was in India and left for UK in 2007. Since then he is contributing Rs 500 PA to that account and kept alive intending to return to India. Now he has taken UK citizenship. What are his options with regard to the balance in his PPF account.

    VSR MURTHY

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