Public Provident Fund (PPF) is considered one of the most popular and safest invest options in India and we have discussed about the scheme in our previous articles in detail. In this article, we will discuss about the necessary documents required to open Public Provident Fund Account.
Documents Required to Open an Account:
The central banking authority, Reserve Bank of India (RBI), from time to time issues guidelines on Know Your Customer (KYC) and in its latest master direction 2016 on KYC; RBI has instructed banks to accept only the following Officially valid document” (OVD) for Individuals while opening bank accounts and these are: Passport, Driving licence, Permanent Account Number (PAN) Card, Voters Identity Card, NREGA Job card, Aadhar Card or Aadhar letter.
Provided further that where ‘simplified measures’ are applied for verifying, for the limited purpose of, proof of address the following additional documents are deemed to be OVDs:
Utility Bills (not more than two months old)
Pension or Family Pension Payment Order
Property or Municipal Tax receipt
Bank account or Post Office savings bank account statement
Letter of allotment of accommodation from employer issued Government department.
Documents issued by Government departments of foreign jurisdictions or letter issued by Foreign Embassy or Mission in India
Documents required to open PPF Account in a bank or post office:
- FORM-A: PPF Account opening form
- FORM-E: PPF Nomination form
- PAN Card or FORM 60/61
- Two Copy Passport Size photo
- Above mentioned Officially Valid Documents.