PPF Account Maturity: How Many Extensions Are Possible?

Every employee gets the Provident Funds. It has a certain lock-in period. PF accounts hold a lock-in period of 15 years. But after maturity, can we extend it? Let's understand from this article.

After the initial 15 year term, PPF accounts may be prolonged for any length of time in five year increments, with no limit to the number of extensions.

With extensions, interest can continue to accrue tax-free and, with contribution, additional investments can be made up to Rs. 1.5 lakh per year while allowing for partial withdrawals, according to the reports.

To extend the account with contributions, you must file Form 4 (or Form H) within a year of maturity.

According to the reports, you are only allowed one withdrawal every fiscal year and you are only allowed to take out 60% of the balance that was there at the beginning of each five year extension period. (Disclaimer: Given the input is on an information basis, please seek professional advice.)