The Public Provident Fund (PPF) is a favored long-term savings scheme for parents aiming to secure their children's financial future. A common misconception is that both parents can contribute ₹1.5 lakh each to their child's PPF account, allowing a total of ₹3 lakh. However, according to the PPF rules, the maximum contribution for a minor's account is capped at ₹1.5 lakh per financial year, regardless of whether one or both parents contribute. CA (Dr.) Suresh Surana clarifies that this limit applies collectively to contributions made by both parents, and only one designated guardian can operate the minor's PPF account. Contributions exceeding this limit are not permitted. Furthermore, while contributions are treated as gifts and the interest earned is tax-free, it may be clubbed with the income of the higher-earning parent for tax purposes. Parents should be aware of these rules to avoid excess deposits and ensure compliance with tax laws. Consulting a financial advisor is advisable to explore various investment options, including alternatives like the Sukanya Samriddhi Yojana, mutual funds, or fixed deposits.