How to Change name of depositor in PPF Account

(1) When a depositor changes his name, e.g. on adoption or otherwise or in the case of female depositor, on marriage, the depositor should be required to intimate the fact in writing to the post office and produce the pass book of the account.

The intimation should bear the depositor’s signature with the old as well as with the new name, and the depositor should also be required to sign a fresh application form with the new name.

 The depositor’s signature as written with the old name on the intimation should be compared with the specimen on record. 

The depositor’s new name should be written clearly in red ink in the pass book and the ledger card above the entry of the old name which should be penned through in such a manner as to leave it still legible.

The corrections in the ledger card and the pass book should be supported by the entry “Vide depositor’s intimation dated _____” which should be initialed and dated by the Postmaster. The pass book should then be returned to the depositor.

The number of the account should be written at the top of the intimation which together with the old application card/form should be kept in a guard file.

 (2) In sub offices one specimen of the new signature should be taken. The intimation with the fresh application form should be forwarded to the head office entered in the list of documents. The new specimen signature obtained from the depositor should be pasted in the S.S. Book over the old specimen in such a manner as to allow inspection of the old specimen signature. Suitable corrections should also be made in the sub office ledger in the manner prescribed above. 

[Rule 72(1) of P.O.S.B. Manual Volume I] 

Note:- The above procedure applicable to P.O. Savings Accounts can also be applied to PPF accounts. The fresh application form in Form A and nomination form in Form E applicable to PPF accounts will be taken from the subscriber. Depositor will also required to submit all the documents related his Change of Name to Complete KYC Formalities. 

How to withdraw amount from PPF Account

(i) Anytime after the expiry of 5 years from the end of the financial year in which the initial subscription for Public Provident Fund (PPF) Account was made, the subscriber may withdraw 50% of the balance to his credit at the end of 4th year immediately preceding the year of withdrawal or the amount at the end of the preceding year whichever is lower. However, not more than one withdrawal is permitted in one financial year. 

(ii) A PPF subscriber may withdraw the entire amount standing to his credit, after the expiry of 15 years form the end of the financial year in which the initial subscription was made. He/She may, also, opt to continue with the scheme by subscribing for a further block of 5 

years by applying to the deposit offices in Form- H before the expiry of one year thereafter. 

(iii) A PPF subscriber may also avail of this facility for a further block of 5 years on the expiry of 20 years (or on expiry of 25 years and so on) from the end of the year in which the initial subscription was made. However, if a subscriber continues to deposit after 15 years without submitting Form H, he shall not be eligible to enjoy benefits under Section 80-C of I.T.Act. These deposits will be treated a irregular and will not earn interest.

(iv) During the extended period of 5 years, a PPF subscriber is eligible to make partial withdrawal not exceeding one in every financial year subject to the condition that total withdrawal during the 5 years shall not exceed 60% of the balance to his credit at the commencement of the period.

 (v) Even if the PPF subscriber does not wish to make any further subscription, the balance in his credit shall continue to earn interest