Rules on Holding Multiple PPF Accounts and Contributions for Minors Explained

Under government rules, an individual can hold only one Public Provident Fund (PPF) account in their name, with joint accounts not permitted. However, parents or guardians may open a separate PPF account for a minor child. The combined annual contribution to both the adult's and child's accounts cannot exceed the overall limit of Rs 1.5 lakh per financial year. Upon turning 18, the child must operate their PPF account independently with a fresh application.