Union of India - Act
The Public Provident Fund Scheme, 1968
UNION OF INDIA
India
India
The Public Provident Fund Scheme, 1968
Rule THE-PUBLIC-PROVIDENT-FUND-SCHEME-1968 of 1968
- Published on 1 July 1968
- Commenced on 1 July 1968
- [This is the version of this document from 1 July 1968.]
- [Note: The original publication document is not available and this content could not be verified.]
1. Short title and commencement.
2. Definitions.
- In this Scheme unless the context otherwise requires:-3. Limit of subscription.
4. Manner of making the subscription.
4A. [ Identification of Account holders. [Inserted by Notification No. G.S.R. 1243(E), dated 29.9.2017.]
- The Aadhaar number shall be the unique identifier for the purpose of establishing the identity of an account holder:Provided that where Aadhaar number has not been assigned, the depositor shall submit proof of application of enrolment for Aadhaar:Provided further that every depositor under this scheme who has not given his Aadhaar number at the time of application for such deposit shall submit his Aadhaar number to the Post Office Savings Bank or Accounts Office concerned, on or before the 31st day of December, 2017.]5. Number of subscription.
- The subscription, which shall be, in multiples of Rs. 5 may, for any year, be paid into the account in one lump sum or instalments not exceeding twelve in a year.6. Transfer of accounts.
- A subscriber may apply for transfer of his account from one "Accounts Office" to another "Accounts Office".7. Issue of duplicate pass book, etc.
8. Interest.
- Interest at the rate, notified by the Central Government in the official gazette from time to time, shall be allowed for calendar month on the lowest balance at credit of an account between the close of the fifth day and the end of the month and shall be credited to the account at the end of each year.Provided that where the interest to be credited contains a part of a rupee, then, if such part is fifty paise or more, it shall be increased to one complete rupee, and if such part is less than fifty paise, it shall be ignored.Note :- In cases where withdrawals are made during the year from 1986-87 to 1988-89, an amount equivalent to one per cent of the amount withdrawn, rounded to the nearest rupee, shall be deducted from the interest creditable to the account of the subscriber. This recovery has been discontinued w.e.f. 1.4.1989.9. Withdrawals from the Fund.
| Year(1) | Opening Balance(2) | Assumed Fresh Deposit(3) | Total Amount(4) | Rate of Interest(5) | 1% less on the applicable rate of interest(6) | Interest accrued(7) | Outstanding Balance(8) |
| 2006-07 | 1000.00 | 1000.00 | 8.0 | 7.0 | 70.00 | 1070.00 | |
| 2007-08 | 1070.00 | 500.00 | 1570.00 | 8.0 | 7.0 | 109.90 | 1679.90 |
| 2008-09 | 1679.90 | 500.00 | 2179.90 | 8.0 | 7.7 | 167.85 | 2347.75 |
| 2009-10 | 2347.75 | 700.00 | 3047.75 | 8.0 | 7.0 | 213.34 | 3261.09 |
| 2010-11 | 3261.09 | 600.00 | 3861.09 | 8.0 | 7.0 | 270.28 | 4131.37 |
| 2011-12 | 4131.37 | 1000.00 | 5131.37 | 8.6 | 7.6 | 389.98 | 5521.36 |
| 2012-13 | 5521.36 | 1200.00 | 6721.36 | 8.8 | 7.8 | 524.27 | 7245.62 |
| 2013-14 | 7245.62 | 1500.00 | 8745.62 | 8.7 | 7.7 | 673.41 | 9419.03 |
| 2014-15 | 9419.03 | 1500.00 | 10919.03 | 8.7 | 7.7 | 840.77 | 11759.80 |
| 2015-16 | 11759.80 | 1000.00 | 12759.80 | 8.7 | 7.7 | 982.50 | 13742.30 |
| Total | 9500.00 | 13742.30] |
10. Loans.
11. Repayment of loan and interest.
12. Nomination and repayment after death of subscriber.
13. Power to relax.
- When the Central Government is satisfied that the operation of any of the provisions of this Scheme causes undue hardship to a subscriber, it may, by order for reasons to be recorded in writing, relax the requirements of that provision in a manner not inconsistent with the provisions of the Act.FormsForm A[See sub-paragraph (1) of paragraph 4]Serial No................Application for opening a Public provident Fund, Account under the Public Provident Fund Scheme, 1968.ToThe Agent/Manager,State Bank of..........I................ hereby apply for opening an account under the Public Provident Fund ,scheme, 1968, in my name/in the name of Kumar/Kumari.............. of whom I am the guardian and tender herewith Rs............ (Rupees............ in cash/cheque as the initial subscription.Permanent address of subscriber/guardianI agree to abide by the provisions of the Public Provident Fund Scheme, 1968, and amendments issued thereto from time to time.Account in the Name of a MinorDate of birth of minor.....................................Application's relationship with minor, if any,...............................| Date........... | Signature or thumb impression ofsubscriber/guardianAdditional specimen signatures |
| Date........... | Accounts Officer |
| Counterfoil (1) | Counterfoil (2) |
| Subscriber's CopyPublic Provident Fund Scheme, 1968. | Agent's CopyName ofAgent----------------------------CodeNo----------------------------------Public Provident FundScheme, 1968. |
| Name of Accounts OfficeAccount No.------ Date------LedgerFolio-----Name of Subscriber-------Amount deposited(Cash/Cheque) Rs. Subscription-----------------LoanRepayment------------------Interest onLoan---------------------Fee--------------------------------Total----------------------------Rupees(inwords)----------------------------------------------------------------------------------------------- | Name of Accounts OfficeAccount No.------ Date------LedgerFolio-----Name of Subscriber-------Amount deposited(Cash/Cheque) Rs. Subscription-----------------LoanRepayment------------------Interest onLoan---------------------Fee--------------------------------Total----------------------------Rupees(inwords)----------------------------------------------------------------------------------------------- |
| For Deposit OfficeAmount in figures :Cashier'sScroll No.Date Stamp of Deposit Officer CashierheadCashier/ Accounts Officer | For Deposit OfficeAmount in figures :Cashier'sScroll No.Date Stamp of Deposit Officer CashierheadCashier/ Accounts OfficerN.B.This counterfoil may bescored out by subscribers not utilising the services of an agent. |
| Cash | Amount Rs | Amount (in figures) | Head of Govt. Account |
| 100 x | Subscription | '8006-Public Provident Fund' | |
| 50 x | Loan | ||
| 20 x | Repayment | ||
| 10 x | |||
| 5 x | |||
| *Cheque/draft/ Postal Order | Interest on Loan fee | '2049-Interest Receipts' | |
| Total |
1A. I have not made any withdrawal in the current year.
*2. Certified that the amount sought to be withdrawn is required for the use of.......... who is alive and is still a minor.3. The Pass Book is enclosed.
| Date............ | Signature or thumb impression of subscriber/guardian |
| Date............ | Date...............Signature or thumb impression of subscriber/guardian |
1. I wish-to take a loan from Public Provident Fund Account No............. of a sum of Rs (Rupees..............) which I undertake to repay with interest within the period of thirty six months as prescribed in paragraph 11 of the Public Provident Fund Scheme, 1968.
2. I had taken a loan of............. (Rupees..........) on.............(date), which has been repaid in full with interest on....................... (date).
*3. Certified that the amount for which, loan is applied for is required for the use of ...............who is alive and is still a minor.4. The pass book is enclosed.
| Date............ | Signature or thumb impression of subscriber/guardian |
| Date............ | Signature of Accounts Officer |
| Date............ | Signature or thumb impression of subscriber/guardian |
| Serial No. | Name(s) of the nominee(s) | Full address(es) | Date of birth of nominee(s) in case of minor | Proportionate amount for each nominee |
| Signature of witness: | Signature or thumb impression of subscriber |
| Name and address:Date: |
| Date............ | Signature of Accounts Officer |
| To | Date----------------- |
| Serial No. | Name(s) of the nominee(s) | Full address(es) | Date of birth of nominee(s) in case of minor | Proportionate amount for each nominee |
| Subscriber's Address | Signature or thumb impression of subscriber | |
| (1) | Witness :Name :Address: | |
| (2) | Witness :Name :Address: |
| Date............ | Signature of Accounts Officer |
| Place............... | Signature or thumb impression of claimant(s) |
| Date.............. |
| Date.............. | Accounts Officer |
| Place............... | Signature or thumb impression of claimant(s) |
| Date.............. |
1.
2.
Signature, names and addresses of witnesses1.
Attested 2.Notary PublicAnnexure II toForm G(Affidavit)ToThe Manager/Post Master,................................................ (Name of the Bank/Head Post Office)I/We.................... Husband of/wife of late................ aged..........., agedd .........., agerd............... Sons/daughters of the said late.................. resident of.............. do hereby declare and solemnly affirm as under:-1.
2.
3.
4.
DeponentsVerification: I/We, the above-named deponents do hereby verify on solemn affirmation in .............. (name of place) that the contents of this affidavit are true to my/our knowledge and nothing material has been concealed.Dated:-1.
2.
3.
4.
DeponentsAttestedOath CommissionerAnnexure III toForm G(Letter of disclaimer on Affidavit)ToThe Manager/Post Master,............................................................................. (Name of the Bank/Head Post Office)I/We, (i)............husband of/wife of................... Resident of............... (ii)................... son of/daughter of.................. (iii)..................... son of/daughter of......................... do hereby solemnly affirm as follows :-1.
2.
3.
Deponent(s)Verification : I/We, the above-named deponents do hereby verify on solemn affirmation that the contents of this affidavit are true to our knowledge.Dated : ................Deponent(s)I identify the deponent(s) who is/are personally known to me and who has/have signed in my presence.Dated : .................AttestedOath CommissionerForm H[See Sub-paragraph (3A) of Paragraph 9]Application for continuance of account under Public Provident Fund Scheme, 1968 beyond 15 years.ToThe Agent/Manager/Post Master,-----------------------------------------------------------------------------My Public Provident Fund Account No.---------------------------has completed 15 years after the initial year of its commencement, on-------------------I wish to continue to subscribe to my above referred account for a further block period of 5 years according to the limits prescribed in paragraph 3 of the Scheme.| Date.............. | Signature or thumb impression of claimant(s) |
| Date.............. | Accounts Officer/Postmaster |