What is PPF (Public Provident Fund) and how does it work?

PPF is a 15-year government-backed savings scheme offering tax-free returns (currently ~7.1% p.a.). Minimum investment: ₹500/year; maximum: ₹1.5 lakh/year. It offers full EEE tax treatment. Partial withdrawals are allowed from Year 7 onwards. It's ideal for risk-averse investors seeking guaranteed, tax-free long-term wealth.