Is one allowed to invest in both VPF (Voluntary Provident Fund) and PPF (Public Provident Fund) in the same financial year and is there a limit on the same?
With respect to investment there is limit of Rs.1.5 lakh/financial year for PPF. There is no limit on VPF. However, you may also want to look into the tax exemption aspect of investing in these as there are separate limits on those as well.
For e.g., even if you invest the full Rs.1.5 lakh in PPF you will only get a maximum tax deduction of Rs.1.5 lakh on you annual income under section 80C which also includes multiple other investment options including EPF due to which the total investment amount will not get the tax deduction.
However, they are good investment options if you are only looking for secure investment options with high post-tax yield.