PPF account limit for minor
The total amount that you can invest in all PPF account for self and minor put together is only Rs 1.5 lakh
You can operate a PPF account for your minor children. However, the total amount that you can invest in these accounts put together is only R1.5 lakh. If you have more than one child, you can open an account in each child's name. But the overall investment limit would still remain R1.5 lakh. Also, only one of the spouses can open an account in the name of their child or children, so each child can have only one PPF account.
If it is found that you have been investing more than R1.5 lakh totally, the bank or the post office where you have accounts would return the excess amount to you without paying any interest. So it will be advisable to contact the bank and inform them about the same and they will guide you with the withdrawal of the excess deposits.
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