Can I open PPF account for my all family members separately?

[Sandeep1007]

I have heard that maximum amount 1Lacs can only be deposited in one person and his/her dependents whether all are having different accounts. But the limit should not corssed as 1Lacs if children are minor. hence i have confused and need guidance whether it is correct or not?

[Rahul]

I have heard that maximum amount 1Lacs can only be deposited in one person and his/her dependents whether all are having different accounts. But the limit should not corssed as 1Lacs if children are minor. hence i have confused and need guidance whether it is correct or not?

The maximum limit is Rs 1,00,000/- per individual. If you want have an account in your minor son's name then the combined contribution in your account and your son's account(s) cannot exceed 1 Lac.

Source - PW.com

[Sandeep1007]

Thanks Rahul for clearing my doubts..