In the event of a minor's guardian's death, should the PPF account in the minor's name be closed and a new account opened?In such cases, the minor will be treated as a subscriber.
03 Dec 2008
In such cases, the minor will be treated as a subscriber. The amount in his/her account does not become payable on the death of the guardian. Under Section 8 of the PPF Act, the amount becomes payable only on death of the subscriber. In case of death of guardian, the account of the minor is remains in operation; a fresh account need not be opened. The surviving natural guardian or a competent guardian appointed by the courts may continue the minor's account after producing the necessary guardianship certificate.