PPF scheme was launched in 1968 by the Finance Ministry’s National Savings Institute. The main objective of the PPF scheme is to help individuals make small savings and provide returns on the savings.

The PPF scheme offers an attractive rate of interest and no tax is required to be paid on the returns that are generated from the interest rates.

Eligibility to open a PPF account

The eligibility criteria to open a PPF account are mentioned below:

  • Indian citizens are eligible to open a PPF account.
  • An individual can open only one account under his/her name. However, another account can be opened by the individual on behalf of a minor.
  • Non-resident Indians (NRIs) and Hindu Undivided Families (HUFs) are not allowed to open a PPF account.

How to open a PPF account?

Individuals can open a PPF account at banks or at post offices. Earlier, opening a PPF account was allowed only at Nationalised Banks, however, private banks such as Axis, HDFC, and ICICI Bank also offer the PPF scheme. The documents required to open a PPF account is mentioned below:

  • The application form must be submitted.
  • ID proof such as Aadhaar card, Permanent Account Number (PAN) card, passport, etc., must be submitted.
  • Address proof with the current address mentioned on it should be submitted.
  • Signature proof.

After submission of the above documents, the amount that is required to open a PPF account can be deposited.

Employees Provident Fund Organisation (EPFO) has given various facilities to the Provident Fund account holder which includes online PF balance check, online PF account update, online PF grievance redressal, etc. These measures have helped decrease the PF grievance, however, EPF grievances still exist. The EPFO is well aware of it and hence it has given EPFO subscribers to put online complain by visiting at EPF i-Grievance Management System. Here, members of the EPF Scheme can register their queries and complaints, send reminders for pending grievances and know the status of their request.
According to the tax and investment experts, majority of the PF grievance is related to the final settlement of the EPF or PF withdrawal, transfer of PF accumulation into the new EPF account, final settlement of pension, payment of insurance benefit, scheme certificate, issue of PF slip or PF balance or any other issue.
An EPF scheme member can put online PF grievance complaints through EPF i-Grievance Management System by logging at epfigms.gov.in. To register a grievance on this platform, the scheme member needs to select the ‘Register Grievance’ option from the top menu and the member will be redirected to the Grievance Form. Here is step by step guide to put PF Grievance through EPF i-Grievance Management System:
1] Select your status on the first page, whether you are an EPF Member, EPS Pensioner, Employer or Other and then fill the required details like UAN and Captcha;
2] Click on ‘Get Details’ and enter the remaining details like Name, Email address and Mobile Number in the next part of this form;
3] Click on ‘Get OTP’. Enter the OTP sent to your registered mobile number;
4] In the section, ‘Enter Personal Details’, choose your PF Account Number;