PUBLIC PROVIDENT FUND. FEATURES. Who can open? Account can be opened as single only by an adult or guardian on behalf of a minor Account can be opened with Rs.5/- at all Post Offices except Branch offices and single and double handed departmental offices and nationalized banks
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Who can open?
After 15 financial years from the end of the year in which the account was opened.
Relaxation of Rules
In case of any hardship, premature closure is allowed only by ministry of Finance.
RULE NO : 151 POSB Manual Volume -I