A & B are husband & wife and have 2 minor children C & D. If A & B both have separate income, how many PPF accounts can be opened for all and what will be the maximum deposit per annum?
Both husband and wife can operate two separate PPF accounts. Each account has a limit of ₹1.5 lakh. Either of the two can open another PPF account as a guardian of their minor children.
However, only one of the spouses can open an account in the name of each child. Also, the total amount that an individual can invest on his/her own name along with minor children all put together cannot exceed ₹1.5 lakh in a financial year.