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of <h1>EEFC Account Scheme under FEMA 2000 allows residents to maintain foreign currency accounts with 100% earnings credit</h1> The Exchange Earner's Foreign Currency (EEFC) Account Scheme under FEMA 2000 allows Indian residents to maintain foreign currency accounts with authorized dealers. Account holders can credit 100% of specified foreign exchange earnings including inward remittances, export payments, professional fees, and advance export receipts. Permissible debits include payments for current and capital account transactions, customs duties, and trade-related advances. The scheme permits rupee withdrawals without reconversion rights and allows resident close relatives as joint holders on former-or-survivor basis.
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