What is PPF (Public Provident Fund) and its benefits?

The Public Provident Fund (PPF) is a popular long-term savings scheme offered by the Indian Government. It allows individuals to invest money and earn tax-free interest within a specified limit on their contributions. The main benefits of PPF are:

Tax Benefits: The contributions made to PPF are eligible for tax deductions under Section 80C of the Income Tax Act.

Fixed Interest Rate: The PPF offers a fixed, attractive interest rate, which is set by the Government and is compounded annually.

Long-term Investment: PPF has a maturity period of 15 years, providing a stable and secure option for long-term savings.

Withdrawal Options: Partial withdrawals are allowed after the completion of the 6th financial year, offering liquidity in case of emergencies.

Low Risk: PPF is backed by the Indian Government, making it a safe and low-risk investment option.

Accessibility: PPF accounts can be opened at designated post offices and authorized banks, making it accessible to a wide range of individuals.

The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament, viz. The Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for regulating the profession of Chartered Accountancy in the country. The Institute, functions under the administrative control of the Ministry of Corporate Affairs, Government of India. The ICAI is the second largest professional body of Chartered Accountants in the world, with a strong tradition of service to the Indian economy in the public interest.

The affairs of the ICAI are managed by a Council in accordance with the provisions of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988. The Council constitutes of 40 members of whom 32 are elected by the Chartered Accountants and the remaining 8 are nominated by the Central Government generally representing the Comptroller and Auditor General of India, Securities and Exchange Board of India, Ministry of Corporate Affairs, Ministry of Finance, and other stakeholders.

Visit The ICAI Website

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