If you want to open your PPF account with Aadhaar card as the primary identity then that is very much in the realm of possibility. However, in case you don’t have the Aadhaar card, you need to provide the Aadhaar card enrolment number, indicating that you will soon get one as you have applied for it. So, in effect, you will have opened your PPF account with an Aadhaar enrolment number. You can invest money in it as per rules. The smallest amount is Rs 500 and the largest is Rs 1.5 lakh per annum.
But here is where problems arise. Make sure you provide the proof of your having secured an Aadhaar card. This ID has to be submitted by the PPF account holder within 6 months from account opening date. This PPF-Aadhaar card linking is a must.
So what happens when you do not secure your Aadhaar card or forget to submit it as proof of identity? An investor should be warned that if Aadhaar is not submitted within time, his PPF account will cease to be operational.
Fortunately, for PPF account holders, the same can be re-opened. However, that will only be possible when the Aadhaar card proof has been submitted.
Notably, i f you don’t have an Aadhaar card, there are other documents that can be submitted to open your PPF account. Apart from the PPF account opening form (Form 1), the documents required are a passport size photograph, a copy of PAN Card.
For all those people who want to open their PPF account, here is one mistake with the Aadhaar card they should not make. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
