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provident fund

provident fund

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Published by namananilshah

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Published by: namananilshah on Feb 06, 2010
Copyright:Attribution Non-commercial


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Public Provident Fund -
The Public Provident Fund Scheme is a statutory scheme of the CentralGovernment of India.
The Scheme is for 15 years.
The rate of interest is 8% compounded annually.
The minimum deposit is 500/- and maximum is Rs. 70,000/- in a financial year.
One deposit with a minimum amount of Rs.500/- is mandatory in each financial year.
The deposit can be in lumpsum or in convenient installments, not more than 12Installments in a year or two installments in a month subject to total deposit of Rs.70,000/-.

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