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Business Services-1 — OCM STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceOCMBusiness Services-12 Marks
Question
Write a note on public provident Fund scheme.
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Answer

  • Under $P.P.F.$ Scheme any one can open account in post office with minimum $D$ $500$. The time period of this account is $15$ years.
  • It can be extended to $5$ more years on application. It is Amount for as many times as you wish.
  • It can not be closed premature, (before $15$ years. ). Amount deposited in this account is deductible from income tax.

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