How much can I deposit in joint PPF account?

[Mahesh]

I have PPF account in joint name - my name as well as my daughter’s (minor) name; my wife also has another Joint PPF account with her name as well as son (minors) mane. Can I deposit Rs. 70000/- in my account as well as in my daughter’s account? Can my wife also deposit – Rs. 70000/ in her as well as son’s account?

[PolicyWala]

Your query is not clear. But in an PPF account in a year you can deposit max - 1 lakh and get a tax rebate upto 70000/-.

[Mahesh]

Sorry for the wrongly phrased query - We have four accounts - My Name, My wife's name, son and daughter's name. In my daughter's account I am nominee and in my wife's account my son is nominee.

[Madhura]

Sorry for the wrongly phrased query - We have four accounts - My Name, My wife's name, son and daughter's name. In my daughter's account I am nominee and in my wife's account my son is nominee.You can deposit 1 lakh (http://www.policywala.com/forum/showthread.php/2680-PPF-Investment-Limit-increased-to-1-lakh-from-1-12-2011) in each account from 01/12/2011.