<a href="https://zfunds.in/m/public-provident-fund-ppf">PPF</a> account is a government-backed saving scheme that allows a depositor to save &amp; invest regularly for a long tenure. PPF is a tax-saving instrument investment in which is eligible for claiming tax deductions by investors of up to Rs.1.5 lakh per financial year.&nbsp;An individual is only allowed to maintain one PPF account. If an investor opens a second PPF account, then he/she will need to close the second account and the amount deposited in the second account will not be eligible to earn interest. But if in case, the individual earns the interest on the second account, then he/she would have to give back the interest amount to the government.Also, it will be mandatory for the investor to close the second account. And for this, the investor will have to prove that the second account has been mistakenly opened and is not opened deliberately.If the investor still opens the second PPF account, then they will not get any benefit of the PPF account for the second account.&nbsp;To know more about the PPF account, <a href="https://zfunds.in/m/public-provident-fund-ppf">click here </a>to read our article or&nbsp;<a href="https://youtu.be/t6WEI6e08xs">click here</a> to watch our youtube video.

Can I maintain more than 1 public provident fund (PPF) account under my name? is it allowed to open multiple PPF accounts

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