Govt has allowed PPF Withdrawal under Public Provident Fund Scheme 1968 after completion of 5 years for
- Treatment of Serious ailments or life threatening disease of the account holder, Spouse, or dependent children or parents on production of supporting documents from competent medical authority
- Higher Education of the account holder or the minor account holder on production of documents and fees bills in confirmation of admission in a recognized institute of higher education in India or abroad
However Interest rate will be deducted @ 1% from the interest payable as applicable from time to time on the deposit held in the account from the date of opening of the account till date of such premature closure .
MINISTRY OF FINANCE
(Department of Economic Affairs)
New Delhi, the 27th June, 2016
G.S.R. 635(E).— In the notification of the Government of India, Ministry of Finance, Department of Economic Affairs published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide G.S.R No. 613(E) dated June 20, 2016, at the end of para 2, for the Table ‘Calculation showing the interest payable to depositor’ the following Table shall be substituted:
Calculation showing the interest payable to depositor
The other contents of the notification dated June 18, 2016 will remain unchanged.
[F. No. 1/04/2016-NS-II]
PRASHANT GOYAL, Jt. Secy.
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