#Public Provident Fund

[vvstockzone]

VV Stock Zone provides full coverage of the stock market, cryptocurrencies, commodities, mutual funds, economic opinions, IPO announcements, and more to help you stay on top in the world of finance.

[bricksnwallbusiness]

What is the Public Provident Fund Scheme?

All people can invest tax-free through the Public Provident Fund (PPF) savings plans. The government launched the program to promote people's investing and saving behaviours. The system was first announced on June 15, 1968, via GSR 1136. Since then, numerous changes have been made. A new scheme has now been announced by the government, according G.S.R. 915(E), dated December 12, 2019.

A ₹1,50,000 maximum deposit is allowed in a fiscal year, with a ₹500 minimum requirement.

From the third to the sixth fiscal year, a lending facility is offered.

Annual withdrawals are allowed starting with the seventh fiscal year.

After fifteen complete financial years have passed since the account's opening, it matures.

With new deposits, the account can be extended after maturity for an unlimited number of 5-year blocks.

Following maturity, interest can be accumulated at the current rate on an ongoing basis, provided no additional deposits are made.

There is no court ruling or decree that could lead to the attachment of the funds in the PPF account.

Under Income Tax Act Section 80-C, deposits are deductible.

Section 10 of the Income Tax Act exempts the interest earned in the account from income tax.

Overview of Public Provident Funds 

Eligibility for Public Provident Funds

Any authorized bank, post office, or nationalized bank may open PPF accounts. Form 1 must be submitted along with the necessary paperwork and the required minimum deposit in order to start a PPF account.

Can I open two PPF accounts? 

Under the PPF plan, a person is only allowed to register one account in his name. Furthermore, a person may register a single PPF account in the name of each juvenile or mentally ill person for whom he is the legal or natural guardian. It should be mentioned that any guardian of a kid or someone mentally ill may only open one account in their name. It is not possible to open joint accounts under this scheme 

Repercussions for not making the required minimum payment into the account

The account will be deemed cancelled if the depositor does not make the required number of deposits in the subsequent years. However, if the minimum yearly deposit of Rs. 500 is paid for each year of default, together with a penalty of Rs. 50 for each year of default, the account can be reopened during its maturity period. The amount that the investor deposits in the account will not be increased by the amount of the fee.

The account holder will only be permitted to open a new account following the account's closure upon maturity if their PPF account is deemed abandoned. Additionally, the facility for loans and partial withdrawals shall not be available. 

The amount in the closed account will still accrue interest at the rate that is periodically relevant to the scheme, even if it is not reopened.

PPF Withdrawal Guidelines

When is it possible to withdraw money?

Only five years from the end of the year the account was opened may money be taken out of the PPF account prior to maturity. If a juvenile or someone mentally incompetent opens the account, withdrawals can be made whenever it's convenient for them, as long as they're still alive.

Maximum amount that can be taken out

A maximum of 50% of the balance in the account's credit at the end of the year immediately prior to the withdrawal or at the end of the previous year, whichever is smaller, may be taken from the PPF account.

If the account has received deposits after maturing, the total amount of withdrawals made throughout the five-year block period cannot exceed 60% of the credit balance at the beginning of the block period. One may choose to make this withdrawal in one lump sum payment or in yearly installments. However, no more withdrawals will be permitted if the account user decides to keep the account open without making any more deposits.

How Can I Take Out My PPF Amount?

The Form 2 application must be submitted. On the other hand, the guardian must provide a certificate if the withdrawal is made from the account on behalf of a minor or someone who is not of sound mind.

Additional circumstances

Before submitting an application for such a withdrawal, the account holder must refund any outstanding debt, including interest, if any has been acquired against the account;

The withdrawal option is only accessible once a year; withdrawals cannot be performed from accounts that have been closed or from account extensions in which the account holder chooses not to make any more deposits.

Is it possible for a Non-Resident to open a PPF account?

It was forbidden for non-residents to invest in the PPF under the prior structure. Nothing in the new plan forbids non-residents from doing anything. Therefore, anyone can choose to use this program, resident or not.

However, in order to open an account under the plan, the applicant needs to submit Form 1, which certifies that they are an Indian citizen living in the country. It is uncertain if Section 2(v)/2(w) of the FEMA Act or Section 6 of the Income-tax Act will be used to determine this residential status.

Therefore, the applicant will not be permitted to sign such a declaration if he is a foreign national or a non-resident of India (as defined by both Acts). Therefore, Form 1 will prevent a non-resident citizen from signing and submitting the application in Form 1, even when the scheme's limitation has been removed. Unlike the previous scheme, if the account holder becomes a non-resident at any point after choosing it, he will not have to cancel the accounts and only need to submit a declaration to an accounts officer stating his change in residency.

[personalskill]

Know the PPF Withdrawal Rules Online in India | HDFC Bank To Withdrawal money from your PPF account, there are specific rules & streamlined processes by which you can remove your money partially or in whole. Check Now - https://www.hdfcbank.com/personal/save/accounts/public-provident-fund

[banglakhobor]

PPF-এর এই ৭ অসুবিধার কথা জানেন? বিনিয়োগের আগে খেয়াল না রাখলে ভুগতে হবে!

কলকাতা: পাবলিক প্রভিডেন্ট ফান্ড সরকার সমর্থিত দীর্ঘমেয়াদি বিনিয়োগ প্রকল্প। ট্যাক্স সুবিধা এবং নিশ্চিত রিটার্নের কারণেই এর জনপ্রিয়তা। তবে পাবলিক প্রভিডেন্ট ফান্ডের কিছু অসুবিধাও রয়েছে। বিনিয়োগের আগে তাই সচেতন হওয়া উচিত। লক ইন পিরিয়ড: পিপিএফ-এর সবচেয়ে বড় অসুবিধা হল ১৫ বছরের লক ইন পিরিয়ড। অর্থাৎ ১৫ বছরের আগে স্কিম থেকে টাকা তোলা যাবে না। বিশেষ কিছু ক্ষেত্রে ছাড় রয়েছে। যেমন অ্যাকাউন্ট হোল্ডারের…

[pallavirajput74]

Smart Investment Choices: Exploring India's Top 5 Secure and Stable Returns

[lacnunga]

In the wake of the IA situation, I've seen a lot more posts circulating about using your local library and I just. Sigh

[thepoisonroom]

apologies if this is a dumb question and i won't be offended at all if you dont answer/dont know but since you've worked in libraries before i was curious if you knew how to let your library know you're interested in an audiobook they haven't purchased ? i know i used to be able to make requests on overdrive but since the switch to libby i haven't been able to figure it out. i hope youre having a lovely day whether you can help or not and appreciate you taking the time to read all this 💛

sorry for the late reply, i haven't been online much and just saw this! most public libraries will have a form on their website called something like "purchase request" or "suggest a title" that you can use to request things! people often think this is only for books, but most places will let you request audiobooks, DVDs, etc. librarians won't always add the things you request to the collection, and they often can't explain every decision in detail due to volume, so results may vary.

the one thing to be mindful of is that audiobook/ebook licensing can be really weird, and sometimes publishers do make it really difficult or impossible for libraries to license certain items! so if your library doesn't get something you ask for, that sucks and is disappointing, but please don't hesitate to keep sending in requests as you have them! that info is always super helpful for collections folks looking to add things to the library that they think you'll want and use!

[v2is-baby]

Yeah, but him cloning his dead dog 5 times isn't as bad as him insisting that the dog told him to become the president from the grave.

[dontmeantobepoliticalbut]

Pennsylvania’s public defenders are so underfunded and overburdened that the commonwealth violates the constitutional rights of more than 100,000 criminal defendants every year, the state chapter of American Civil Liberties Union claims in a lawsuit filed Thursday.

For decades, Pennsylvania has left counties to pay for attorneys to defend people facing criminal charges who can’t afford to pay for a lawyer themselves. The result is an inconsistent patchwork in which public defenders are forced to contend with unmanageable caseloads that leave them unable to properly represent clients, the lawsuit says.

The suit was filed in Commonwealth Court on behalf of 17 people, many of whom have been jailed while awaiting trial for six months or longer, claiming public defenders have failed to properly represent them and that the state has neglected its constitutional duty to provide representation.

“The inconsistent and insufficient funding of indigent defense in Pennsylvania makes us less safe,” ACLU of Pennsylvania Executive Director Mike Lee said in a news release about the lawsuit. Lee added that with the exception of Philadelphia, Pennsylvania is tied with Mississippi for the lowest funded state public defender system on a per-resident basis.

The U.S. and Pennsylvania constitutions both provide the right to counsel for anyone charged with a crime and facing jail time, ACLU of Pennsylvania Legal Director Witold Walczak said.

“That right means more than a warm body with a law degree at your side; it requires an effective professional who has the time and resources to prepare a defense,” Walczak said. “Pennsylvania’s grossly under-funded system leads to overwhelming caseloads that make effective representation practically impossible, even for the most dedicated lawyers.”

The 152-page suit details the experiences of the plaintiffs and others in criminal cases where they lacked timely and adequate representation from public defenders. Most have only spoken to their attorneys once or twice and one plaintiff claims he only met his attorney because they happened to walk past while he was cutting grass outside the jail, the suit claims.

In one example, a Northampton County man sat in jail for nearly three months on charges of driving an unregistered vehicle without proof of insurance until a public defender argued for a reduction in his bail.

The suit, which is a proposed class-action on behalf of the 17 plaintiffs and others in similar situations, names Gov. Josh Shapiro, state Senate Pro Tempore Kim Ward, and House Speaker Joanna McClinton as defendants. A spokesperson for Ward said she has not received a copy of the suit and would need time to review it before commenting.

Spokesperson Nicole Reigelman noted that McClinton began her career as a public defender, and “knows firsthand the value that indigent defense plays in the judicial system.”

“Since being elected in 2015, she has used her experience as a defender to inform her policy agenda and has been an outspoken champion of legislation to improve access to legal counsel for indigent clients. Speaker McClinton celebrated when funding for indigent defense was finally included in the 2023-24 state budget and continues to advocate for additional dollars,” Reigelman said in a statement.

The current state budget included $7.5 million for indigent defense, the first time the state has provided funding for public defenders. In his February 2023 budget address, Shapiro noted that Pennsylvania is one of only two states that didn’t provide funding for public defenders, which he called a “shameful distinction.”

The suit notes that amount falls far short of providing adequate funding. It also states that every county in Pennsylvania, with the exception of Philadelphia, falls below the national average of $19.82 per resident spent on indigent defense.

Pennsylvania counties spent a total of $125 million on their public defender’s offices in 2020, while similarly-sized Michigan is budgeted to spend $319 million in 2024. Massachusetts, which is considerably smaller, budgeted $331 million.

And because counties are limited in their ability to generate tax revenue, they could not provide adequate funding without significant tax increases. The suit notes that the same factors that limit revenues, such as high unemployment, poverty and limited higher education, are also indicators of higher crime rates.

The ACLU also argues that Pennsylvania agencies have been warning for decades that the state’s delegation of funding for public defenders to the counties results in the systemic denial of counsel to criminal defendants.

A state Supreme Court study in 2003 found that sparse resources and “exploding and unmanageable caseloads” allow public defenders little time, training or assistance in communicating with clients in a meaningful way or to conduct pre-trial investigations, secure expert testimony or otherwise prepare for hearings and trials.

The report recommended that Pennsylvania institute a statewide system for funding and overseeing indigent defense. The state failed to act on the recommendation. Nearly a decade later, a legislative commission reached a similar conclusion. And in 2020 the Pennsylvania Interbranch Commission for Gender, Racial and Ethnic Fairness warned that the underfunding of indigent defense services cost the state hundreds of thousands of dollars a year to incarcerate and retry defendants due to failure of public defenders to represent them effectively.

In connection with the funding for public defenders as part of the 2023-24 budget, the General Assembly created the Indigent Defense Advisory Committee.

“As one of its first official acts, one of the Committee’s two proposed standards recognized that “[t]he responsibility to provide indigent defense representation rests with the state; accordingly, there should be adequate state funding and oversight of Indigent Defense Providers,” the lawsuit notes.

[lupismaris]

If anyone has a spare thought/fuck to give please toss it my way I'm treading the delicate path of sorting out the possible (absolutely likely) fuck ups of a former colleague and explaining to their supervisor that they allowed said fuck ups to continue for far longer than they needed to all for the sake of not wanting to ask questions

[wheel-within-a-wheel]

exciting announcement from russell t davies: mullvad vpn and qbittorrent have obtained exclusive rights to doctor who in australia and other commonwealth countries

[protego-et-servio]

Kids and Screens

I saw someone complaining about kids being on screens a lot and, honestly, I wonder how much these people realize that screens aren't an awful replacement for toys.

I'm not saying completely replace toys for screens, but screens aren't totally without imagination or socialization.

First off, many kids we see right now had to go through 2-3 years of online learning thanks to Covid. They also had to learn to socialize through online meeting and messenger apps.

I know, because my youngest is super extroverted. Covid was hard for them. They did - and still do - talk with friends over messengers or Zooms. They really enjoy playing Roblox and video chatting with friends.

Secondly, lots of apps inspire imagination. There's so many games that are basically digital dolls and in many cases they're more accessible for poorer kids. Like I had Barbies, but I only had a few outfits for them since they were expensive.

My kid has tons of apps with dolls and a mind-boggling assortment of clothes. They're always making up stories for the dolls and likes when they can make houses.

Thirdly, kids have access to other stuff than games on tablets and phones. Ebooks, audiobooks, drawing apps, writing apps. The Internet is literally at their fingertips and they have tons of resources to learn.

Yeah, we don't know the effects of kids growing up with screens as an innate part of their life AND there's definitely a need for balance. And there can be something said about corporations wanting to get kids hooked on electronics.

But

You don't know what a family's balance is from one snapshot of one day of their life.

As parents (from a US perspective, since that's my experience,) we are navigating plagues, climate change, political upheaval, growing class divide, public schools becoming defunded, economic inflation, daily shootings, and - if we or our children are of a marginalized group - targeted political attacks, and more.

Parents are tired and kids are getting such the shit-end of the stick in this world.

I'm not going to fault them for finding an escape in online games, media, writing, or digital art.

[theygender]

I keep seeing this post about nuclear power on my dash where someone pointed out that nuclear is dangerous in part because the radioactive waste it leaves behind will outlast everything else, and then some libertarian responded with "that's not how radioactive decay works you scientifically ignorant moron" and the first person immediately rolled over with "I'm sorry I guess I still have some learning to do uwu" and then the nuclear dude's friend made some masturbatory reply complimenting them on accepting defeat gracefully. And it's pissing me off, because the first person was objectively correct. Do you know what the most common high-level waste left behind by nuclear reactors is? Uranium. And do you wanna know what the half life of uranium is? It's 4.5 billion years. That's longer than life has existed on earth. 4.5 billion years ago the earth was a ball of magma that hadn't even dreamed of creating bacteria or fucking water yet. Yes, uranium decays, but by the time it's decayed into lead (after decaying through 7 other radioactive stages first) the earth as we know it will be a dramatically different place. Humans may not exist anymore. The earth itself may not exist anymore for all we know. That is how long your goddamn radioactive decay takes

[buttercuparry]

Recently there has been a fall in engagement with Palestinian content on tumblr, and for those of us who are helping Palestinians fundraise it is very obvious that this has happened directly after the very public smear campaigns, carried out by some racist users with significant followings.

It seems half the site somehow found it easier to believe in the horseshit about “belgian scam rings” and “russian botnets” in an effort to justify their apathy towards genocide victims, and the other half seems to think that everything is over and that the evil was defeated just because some racist bloggers got run off the site after giving half-hearted apologies that did nothing to mitigate the damage they had done.

THERE ARE PEOPLE STILL IN DIRE NEED OF HELP !! There are people who are still getting death threats from zionists every day and have to stay on this godforsaken website because their gofundmes haven't reached their endgoals yet...

I'm going to keep this brief:

Siraj's ( @siraj2024 ) family including his parents, and his five siblings and their families were displaced during the recent attacks by IOF on deir al balah

This means there are now 23 family members that Siraj is the sole provider for at the moment. 

10 of those members are young children.

Siraj's wife, Halima, is having a terrible flareup of eczema and his children are suffering from skin infections and badly need medical attention.

This whole family has been living in unhygienic conditions in 2 tents, packed like sardines during this heatwave, leading to spread of infections between them as well– all during a time where hygiene products have become unaffordable due to the israeli blockade, and when water has become scarce, and kids cant even receive life saving vaccinations during polio epidemic.

All this while everyday siraj risks his life trying to reach out to us from an internet point amidst violence and shelling from the IOF in what once was a “humanitarian safe zone”, even more desperately than before because–

THIS FUNDRAISER IS NOW THE ONLY LIFELINE FOR FIVE FAMILIES INSTEAD OF JUST ONE !!

Currently at $55,614/ $82,000 CAD

TIME IS RUNNING OUT!! We have to get to 60k by thursday i.e WITHIN THE NEXT THREE DAYS!! DONATE AND BOOST

Vetting link #219

If you want additional incentive to donate, pls check out:

Art raffle here (ending in 4 days!!!) - where you get to win this zine as a prize as well for as low as $5 for 1 entry, please dont miss it !!