People can Now deposit up to Rs. 1.5 lakh annually in Public Provident Fund (PPF) with the Centre notifying changes in the popular savings scheme. The government has issued a notification raising the limit from annual PPF deposit limit from 1 lakh to 1.5 lakh in pursuance of the announcement made by Fin Min. Shri Arun Jaitley. PPF is a 15 year investment scheme under which an investor enjoys tax exemption at the time of deposit,accrual of interest and withdrawal. The interest rate on deposit in PPF for 2014-15 is 8.7 percent.
As Per source --> The Telegraph
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