The Public Provident Fund (PPF) is a long-term savings scheme offered by the Government of India. It encourages individuals to save for retirement while providing tax benefits. The scheme has a fixed interest rate, which is set by the government and is compounded annually. PPF accounts can be opened at banks and post offices, and they have a minimum investment requirement. PPF accounts have a maturity period of 15 years, but they can be extended in blocks of 5 years. Deposits made in a PPF account qualify for tax deductions under Section 80C of the Income Tax Act. Additionally, the interest earned is tax-free, making it an attractive option for long-term savings.