PPF Account, May 6 -- A Public Provident Fund (PPF) account is a long-term investment tool for an earning individual because it comes with dual benefits. First, it is a tax-saver investment tool under Section 80C of the Income Tax Act, provided the taxpayer chooses the old income tax regime. Second, it is 100% risk-free and can be used to accumulate wealth to meet financial requirements after retirement.

According to the PPF rules, an investor can open a PPF account in any bank or in a nearby post office by depositing Rs.100. However, one must deposit a minimum of Rs.500 per annum in their PPF account in one financial year. A PPF account has a 15-year lock-in period, during which an earning individual can deposit up to Rs.1.5 lakh in a s...