How to Deposit in PPF amount

Public Provident Fund (PPF) is a long-term, government backed small savings scheme. Public Provident Fund  is an ideal vehicle for long term investment in debt category, an important retirement saving tool for individuals, more so for those who are not salaried employees Our post Understanding Public Provident Fund, PPF explains in detail about the  investment amount, interest rate, power of compounding, who can open, where can one open etc. In this article we shall only focus on how to pay the PPF amount in different scenarios such as in Post Office, State Bank of India and related banks and online.

Overview of Public Provident Fund

PPF comes under the THE PUBLIC PROVIDENT FUND ACT, 1968 available at Indiapost’s webpage  THE PUBLIC PROVIDENT FUND ACT, 1968(pdf). Features of PPF are as follows :

  • PPF works on financial year basis (April 1st – March 31st).
  • The interest rate is around 8% currently 8.80% p.a.
  • You need to deposit a minimum of Rs. 500 per year in a PPF account.
  • Maximum amount which you can deposit in a PPF account is Rs. 100,000. (Earlier limit was Rs 70,000 it was increased to 1 lakh from 1.12.2011 )
  • Deposit amounts should be in multiple of Rs. 5.
  • You can deposit lump sum or multiple installments.
    • Maximum number of installments in a year can not be more than 12.
    • Amount of each installment in a month and also in different years can vary.
    • Ex: In a year one can remit Rs 500 in month of Apr, then 2000 in month of July, 5000 in month of Mar. In the next year one can pay Rs 5000 in month of Jun.
  • Amounts can be deposited in cash, cheque or via demand draft. If you are depositing a cheque or demand draft, then the date of deposit that will appear in your PPF account will be the date of cheque clearance and not the day you present the cheque. Say if you deposit the cheque on the 1st of the month but it fails to clear by the 5th for whatever reasons, you will loose out whole month’s interest
  • Instructions for remitting in PPF account as per the THE PUBLIC PROVIDENT FUND ACT, 1968(pdf)  are as follows :
PPF instruction for filling Form B

PPF instruction for filling Form B

  • For remitting in PPF account by cash or cheque or demand draft one needs to fill Form B or Challan B . It is shown below (click on image to enlarge. It’s pdf is here (pdf)). One needs to fill the same information three times i.e triplet
  • Filled PPF Deposit Slip

    Filled PPF Deposit Slip

  •  Now one can pay through internet banking using Fund Transfer or Third Party Transfer if PPF account is in the bank.
 Deposit by cash or cheque in Post office

Steps to pay using Cash/Cheque in Post Office

  • Fill Form B (pdf format view or download here) shown below with appropriate details.
  • If paying by cheque , cheque should be in the name of  Postmaster, <name of Post office>, (PPF Account Number).  Remember that date of deposit that will appear in your PPF account will be the date of cheque clearance and not the day you present the cheque
  • Get the passbook updated (which may take a week if paying by cheque)

If you opened your PPF account through agent in Post office, your agent may not provide remittance into PPF account and you might have do it yourself.As from 1-Dec-2011 payment of commission to agents on Public Provident Fund Scheme (1%) and Senior Citizens Savings Scheme (0.5%) was discontinued.(Ref).

 Deposit by cash or cheque in Bank

Steps to pay using Cash/Cheque in Bank (SBI, ICICIBank, IDBI) same as in Post Office (except name on the cheque)

  • Fill Form B (pdf format view or download here) shown above  with appropriate details. Fill the Date, Account No, name of subscriber, address,details of cash or cheque number.
  • If paying by cheque , cheque should be in the name of  <PPF account holder name> – PPF Account Number.  Remember that date of deposit that will appear in your PPF account will be the date of cheque clearance and not the day you present the cheque
  • Get the passbook updated (which may take a week if paying by cheque)

Paying Online

One can transfer money online from saving bank account to PPF account using Funds Transfer or Third Party Fund Transfer. This enables one to transfer funds from one’s accounts to other account in the same branch or other branches or a different bank. To make  funds transfer, one should be an active Internet Banking user with transaction rights.

  • Transfer funds within your own accounts called as Fund Transfer.
  • Transfer funds to third party account held in the same bank. It which is used to transfer funds to another account that belongs to somebody else but in the same bank (not necessary to be in the same branch as yours) which is called Third Party Transfer.
  • Make an Inter bank funds transfer to any account held in any bank called as Interbank Transfer  to transfer money to any one having account in any bank (or branch) in India. Interbank transfer is usually done through NEFT transfer or RTGS transfer.

Usually Third Party Transfer is used for transferring funds to third party account in same bank  and Inter bank transfer. Our article Third Party Fund Transfer : NEFT,RTGS

PPF Account is in SBI and Saving Account is in another bank
  • 1: Logon to your Savings account netbanking (ICICI/ HDFC/ any other bank)
  • 2. Add your PPF account as Third party Beneficiary so that you can transfer funds to it
    • a) Enter Payee Name – Same as Name in PPF Account
    • b) Select SBI branch where PPF account is maintained
    • Enter Payee Account number – same as your PPF Account number

Once you have completed these steps you can see your PPF account as the 3rd party account where you can transfer the money just like you send it to any account.

Images from JagoInvestor’s Online transfer to your Public Provident Fund (PPF) account (Click on image to enlarge)

Transfer from From ICICI bank to PPF account in SBI

Select Bank

Transfer of money from PPF account in SBI to ICICI bank

Add Payee

Transfer from ICICI bank to SBI PPF account -ppf account  number

Add PPF Account Number

PPF Account is in SBI and Saving Account is also in SBI (Same branch)

If  you have your PPF account and savings account at same SBI branch, then you can see your PPF account already linked with your Bank account in NetBanking and you can transfer the money. In this case, there is no need to add PPF Account as Third Party Beneficiary. You can transfer money as Funds Transfer

Steps are:

  1. Log on to Personal Banking of SBI’s Internet Banking site with your details (user id, password)
  2. Select Payments/Transfers and then Funds Transfer : Now you can see your accounts associated with your userid.
  3. Select the account from which you wish to transfer funds and the account into which the amount is to be transferred or credited.
  4. Enter the amount and remarks. Remarks can be seen as description for this transaction in your bank account statement. Helps in recalling.
  5. Confirm the transaction. On confirming the transaction, you will be displayed a confirmation page with the details of the transaction and the option to submit or cancel the funds transfer request
  6. On submitting A reference number will be generated for the transaction.

Pictures from mutual-funds-personalfin SBI PPF Online Transfer for the process (Click on image to enlarge)

PPF account in SBI linked to bank account in SBI

Linked PPF account

Select Fund Transfer from SBI account to PPF account in SBI

Select Account

Select Account for Fund Transfer from SBI account to PPF account in SBI

Select payee account

If your PPF account is linked you can see the details of your PPF account. Bank of India has a presentation on Viewing of PPF. A query on PPF account is shown below.

Bank of India PPF account query

Bank of India PPF account query

PPF Account is in SBI and Saving Account is also in SBI (different branch)

In case you have your PPF account and savings account with SBI but in different branches, then you should call Customer care or visit branch and ask them to link the accounts. Once linked you can use Fund Transfer. In the meantime, you can transfer funds using the option of adding  Third Party Beneficiary. 

Saving bank account and PPF account in ICICI Bank with NetBanking

Through ICICI Bank Internet banking, you can:

  • Fill form online for PPF account
  • View your PPF account under your ‘My Accounts’ section in the logged in section
  • Transfer funds from linked Savings Bank Account online
  • View and print mini and detailed statement online
Other Banks

IDBI Bank : PPF account holders of IDBI Bank have the benefit of accessing their PPF account online. Through Internet banking, theycan view their PPF account details, print statement of accounts and also make subscription to PPF by way of online transfer of funds from the savings bank accounts.

Related Articles

In this article we have shown different ways to remit into PPF account. How do you pay into your PPF account, lump sum or installments, use internet banking or go to the bank to deposit into PPF account.

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20 Responses to How to Deposit in PPF amount

  1. Rajesh Mishra says:

    We are trust and we have to deposit PF for employees. Now EPFO has made it mendatory that PF contribution is to be deposited through Ebanking. Problem is we are based in rural area andthe internet is not functioning well here. in this circumstances, is there any other mode of payment available for us? Is RTGS is possible?

  2. Ankit says:


    I have 2 confusions regarding PPF investment in name of my wife, and would be grateful if you clarify these.

    1. If I DONT invest any amount in my PPF a/c, but I invest RS 1.5 lakhs from my income into PPF a/c of my wife (Who is a housewife with no taxable income) then I can claim benefit under section 80C for this investment.
    Am I Right??

    2. Now I continue to do this for 15 years (till the time the PPF account of my wife matures) and keep on claiming tax benefit under section 80C, but after 15 years I close my wife’s PPF account and then all the amount accumulated in her PPF account will be treated as her income and not mine, so if that amount is invested in some FDs then that income from FDs will be treated as her income and not mine. So from tax point of view that income from FD will be clubbed in her income and not mine.
    Am I right??



    • Kirti says:

      Good questions. We will verify but from what we know.
      Under Section 80C of the Income tax Act, an individual is eligible to claim deduction from total income in respect of contributions to any PPF (belonging to self, husband, wife, any child) subject to an overall limit of Rs. 1,50,000 for a Financial Year (FY). Hence, the deduction could be claimed in respect of contributions made in his own PPF account or in the account of spouse or any child.

      2. Yes you are right. Income from FD will be treated as her income if proceeds from PPF are invested in FD.

    • Kirti says:

      Just wanted to add
      One can put money in PPF or Senior Citizens Savings Scheme (SCSS) in the name of spouse/parents and earn tax-free returns. If you have exhausted the Rs 1.5 lakh limit under PPF, you can gift money to spouse, parents, adult children or siblings, who can invest it in PPF. Though you won’t be eligible for deduction in such cases, your money will earn a tax-free return of over 8% a year.

  3. Kunja Bihari Sahu says:

    Is there any restriction to open PPF account in the name of one adult, but having no income of his/her own (for example a student)? Can a parent deposit Rs. 1.5 lakh in his son/daughter’s PPF account separately and avail the benefit of tax free investment?

  4. meesridhar says:

    i wants to diposit monthly 1000*12=12,000/-

    i wants to diposit yearly once 12,000/- which one is better option ?

    • Kirti says:

      Sir depositing yearly once 12,000 as early as possible , for maximum benefit before 5 Apr, would be a better option
      As explained in our article Understanding PPF
      PPF works on financial year basis (April 1st – March 31st). The interest rate is currently 8.80% p.a. which is subject to change. PPF interest is calculated monthly on the lowest balance between the end of the 5th day and last day of month, however the total interest in the year is added back to PPF only at the year-end.

  5. vinod kumar sharma says:

    Dear Sir,

    I have PPF acount in post office, Dehradun and presently I am living at Gurgaon.

    Can I pay PPF amount online.

    V K Sharma

  6. nitesh says:

    l & my wife and my two minor son have separate ppf account and my total investment is not more than 3 lacs in all the 4 accounts 1 lac in my account 1 lac in my wife’s account and 50 thousand each of my both minor son’ s account my question is when my both sons will be 18 years of age then can I invest 1.50 lacs in each of 4 accounts I mean total 6 lacs and at maturity all 4 accounts will get taxfree amount on maturity

    • bemoneyaware says:

      Yes Sir you are absolutely right.
      You can deposit 1.5 lakh each in your account or combination of self/minor
      You can deposit 1.5 lakh each in your wife’s account or combination of self/minor
      When your sons become adult you can deposit
      1.5 lakh in each of the account.
      So as you said 6 lakh of investments for tax free on maturity

  7. Neha says:

    I have PPF in SBI and my salary account is in some other bank, so to get the benifit of PPF on tax, do I need to direct transfer(online) money from my salary account to PPF in SBI or I can transfer to my SBI saving then into my PPF? Please reply.

    • bemoneyaware says:

      Maam apologies for delay in replying, somehow the comment got missed
      You can do direct transfer from your salary account to PPF, no need to transfer to SBI account.
      Which bank account do you want to transfer from?

  8. BSE says:

    I am genuinely delighted to glance at this website posts which
    includes lots of useful facts, thanks for providing such statistics.

  9. Annapurna says:

    Informative post. My personal experience with SBI has been that they insisted that I open a savings a/c with them when I approached them to open PPF a/cs for my kids. They said it was mandatory as per rules, and also explained the ease of operation part. This was 4 years ago. My savings a/c remains dormant with just the minimum credit balance, and each year when I go to the bank and deposit an other bank cheque towards PPF, not ONCE has anyone objected, or even asked me if I hold an a/c with them !

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