Personal Finance Public Provident Fund vs ELSS: Which is a better investment option? Updated : January 28, 2020 01:29 PM IST Public Provident Fund (PPF) and equity-linked saving scheme (ELSS) are some of the popular investment options that qualify for tax deductions. Both PPF and ELSS are tax deductible up to the limit of Rs 1,50,000 under Section 80C of the Income Tax (I-T) Act. PPF offers an EEE (Exempt-Exempt-Exempt) tax status. It has a lock-in period of 15 years.