EPFO inks MoU with HUDCO for Housing for All by 2022

EPFO has amended EPF scheme, 1952, to provide assistance in acquiring affordable houses by allowing withdrawal from PF to the extent of 90 percent of total PF accumulation

GN Bureau | June 24, 2017


#Housing For All   #EPF scheme  
 
Taking prime minister Narendra Modi’s vision of ‘Housing for all by 2022’ forward, Employees' Provident Fund Organisation (EPFO) has amended the EPF Scheme, 1952 to provide assistance in acquiring affordable houses to the EPF members by allowing withdrawal from PF to the extent of 90 percent of the total PF accumulation and also facilitating payment of instalment of housing loan.
 
An MoU to facilitate ‘Housing for All by 2022’ was signed between Central Provident Fund Commissioner, VP Joy and Housing and Urban Development Corporation (HUDCO), CMD, M Ravi Kanth recently.
The major objective of this scheme is to assist in building houses for workers integrating with housing programmes of the central and state governments.
 
The salient features of this scheme include bringing together all stake holders like workers, employers, financial institutions & housing agencies to provide workers’ need for housing, constituting housing societies for collective action to arrange housing units from public/private housing providers, apply to the concerned PF office through the society for getting certificate of fund and contribution and channelling the corpus of EPF savings to build affordable housing for the working class, withdrawal of up to 90 percent of accumulations in members Provident Fund Accounts is allowed among others.
 

Comments

 

Other News

Gig workforce expected to expand to 2.35 crore by 2029-30

The gig economy has arrived in India, as the Covid-19 pandemic has propelled a flexibility of employment. As many as 77 lakh workers were engaged in the gig economy, constituting 2.6% of the non-agricultural workforce or 1.5% of the total workforce in India. The gig workforce is expected to expand to 2.35

How Antyodaya Saral is simplifying everyday life in Haryana

From obtaining an electricity connection to a driver`s licence, ration card, or old-age allowance, delivery of government schemes and services is an aspect of governance that impacts citizens at various points throughout their lives. The Haryana state government provides over 600 such schemes and services.

A blueprint of India’s economic future: From a former RBI governor

From Dependence to Self-Reliance: Mapping India’s Rise as a Global Superpower By Bimal Jalan Rupa Publications, 184 pages, Rs 695 Bimal Jalan, a former governor of the Reserve Bank of India (RBI), has been one of our finest commentators on econom

Carbon neutrality: distant dream or a possible future?

While many countries have been chasing to reach the carbon neutral status, only a few seem to be living up to their pledges as of now. The famous ’Paris Agreement’ of 2015 was glorified and celebrated that finally 196 countries have united with an intent to mitigate and reduce the greenhouse ga

Agnipath: benefits and challenges on the path ahead

The government this week announced the Tour of Duty or `Agnipath` scheme for the recruitment of soldiers in the armed forces. Under this scheme new soldiers will be recruited only for four years. This radical and far-reaching scheme has attracted mixed reactions from various quarters. While some officials

Connecting credit card with UPI: What it means for you

UPI has become an integral part of our daily lives now. We use it to buy groceries, we use it to send money to friends and family, we use it to purchase tickets, book shows, pay the cab driver, and a whole host of other things due to the ease and availability of such a platform at our fingertips. The best

Visionary Talk: Sanjay Pandey, Mumbai Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter