Many government schemes are run by the central government, under which today we will tell you about one such government scheme, in which your child will get huge benefits. Tell that your child is also getting the facility of PPF account from the government. The way elders get many benefits in PPF. At the same time, children also get many benefits. You can also get your child’s Public Provident Fund account opened.
How much can invest
In this scheme, you invest from Rs 500 to Rs 1.5 lakh in a year, you get up to 7.1 percent interest, you can invest in it for up to 15 years.
Who can open children’s account
The account can be opened by the parents of the children and the investment has to be made by the parents only After the child completes 18 years of age the child himself can invest in it and there is no tax on it.
How to open PPF account for children
First of all you have to go to your nearest bank or post office
Now here you have to fill the PPF account opening form
Now all the documents and details sought in this form have to be filled.
You have to submit all the necessary documents by attaching them with the form
After this your application will be checked and your account will be opened
What documents will be needed
If you are also going to open your child’s PPF account, then you will need KYC mandatory, child’s photo, child’s age certificate, in which Aadhaar card and birth certificate will be required.
Benefit of tax exemption
Those who invest in PPF account get the benefit of tax exemption. Customers get tax rebate under 80C in this scheme. At the same time, the interest received on this government scheme and the money received on completion of the policy is also completely tax free. You do not have to pay any tax for this.
