PPF
Account by NRI?
Any
Individual (whether Salaried or Self-Employed or any other category) can invest
in PPF.
NRI’s are not allowed to subscribe to
PPF Account. However, if someone opens a PPF Account while he is a Resident of India but subsequently becomes a
NRI, he shall be allowed to continue investing in his account. An NRI can invest
up to Rs 1,00,000 per financial year in
an existing account, that is, an account that he opened prior to becoming an
NRI. If someone inadvertently opened an account after becoming an NRI, it
is best to close it before it comes to the attention of the concerned
authorities in India.
HUFs
are not allowed to open PPF account.
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