DEPARTMENT OF POSTS: REGULARISATION OF PPF ACCOUNTS OPENED IN JOINT NAMES
PPF ACCOUNTS SB Order No. 06/2018 F.No.32-01/2017-SB Government of India Ministry of Communications Department of Posts Dak Bhawan, Sansad Marg, New Delhi-110001. Dated: 28 .05.2018 To, All Heads of Circles/Regions Addl. Director General, APS, New Delhi. Subject: Regularisation of PPF accounts opened in Joint names Respected Sir/ Madam, The undersigned is directed to say that vide their OM No. 3/1/2016-NS dated 07.05.2018, the Ministry of Finance, Department of Economic Affairs (Budget Division), New Delhi have informed that the as per the Public Provident Fund Scheme, 1968, a PPF account can not be opened in joint names, i.e. in the names of more than one individual. Ministry of Finance has been receiving references from various Banks and Post Offices seeking regularization of irregular PPF accounts opened in joint capacity. The matter has been, examined in Ministry of Finance afresh and decided that all the institutions (Dept of Posts/Agency Banks) may undertake a one-time exercise t...