Should members of the family invest in different ELSS mutual funds for tax saving or invest in the same 3 or 4 mutual funds similar to others?

If your family is investing with a common plan, then 3 or 4 mutual funds are enough to diversify your risk across fund houses. Assuming there are four family members, surely you do not want the head ache of tracking 16 different mutual funds!

Use a nice app/platform like jama.co.in to consolidate your holdings across various family members. Make sure you invents only in direct plans and if needed take the help of a honest advisor, someone without a hidden agenda behind pushing only ‘free’.