In response to various misinterpretations circulating on social media, government sources have clarified the recent changes regarding the Public Provident Fund (PPF) rules.

The clarification addresses concerns stemming from a small savings circular that has sparked confusion among the public, particularly on platforms like Twitter. Officials emphasize that PPF accounts opened for minors without a guardian are considered irregular and do not comply with the established guidelines.

The new rules specifically target irregular accounts that have been opened in deviation from the scheme’s guidelines. Reports indicate that some individuals have opened multiple accounts in the names of minors to circumvent the limit of one account per person.

The primary aim of the small savings circular is to regularise such accounts, ensuring compliance with the regulations. Authorities warn that those attempting to bypass PPF guidelines could face complications if their accounts are detected.

It is important to note that PPF accounts can still be opened for minors, provided they are done so with a guardian. This ensures that the accounts adhere to the necessary regulations and safeguards intended to protect the interests of young account holders.

The government urges the public to stay informed and consult official sources to avoid misunderstandings regarding the PPF scheme and its guidelines.