PPF Scheme 2019: Account will not be liable to attachment

The Union government has notified new Public Provident Fund (PPF) rules under which the amount in the PPF account will not be liable for attachment.

The new rules called, Public Provident Fund Scheme 2019, have replaced all the previous PPF rules with immediate effect.

Under the new rules, the amount in the PPF account will not be liable to attachment under any order or decree of any court in respect of any debt or liability incurred by the account holder.

It has a provision for extension of PPF account with deposits after maturity: The account holder on the expiry of fifteen years from the end of the year in which the account was opened, may extend his account and continue to make deposits for a further block period of five years.

Read More: https://www.bhaskarlive.in/ppf-scheme-2019-account-will-not-be-liable-to-attachment/