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

Why civilization is a precarious thing

The Decline of Hindu Civilization: Lessons from the Past By Shashi Ranjan Kumar Rupa Publications, 416 pages, Rs 995

End of an era: BJP poised to rule Mumbai after 25 years

The BJP-led Mahayuti alliance was set for a decisive victory in the Maharashtra municipal corporation elections, consolidating its dominance across Maharashtra’s urban landscape. As per the latest trends from the vote counting on Friday afternoon, the state`s ruling coalition was leading in 19 of the

Startup India initiative: A decade of building India’s innovation backbone

* With over 2 lakh DPIIT-recognised startups as of December 2025, India stands firmly as one of the world’s largest startup ecosystems. * A decade of Startup India has built a full-lifecycle support system spanning ideation, funding, mentorship, and scale-up. * Around 50% of DPIIT-r

How toll policies are redefining the highway journeys

With the phenomenal growth in National Highways, queues at toll plazas used to affect commuters. However, over the last decade, tolling has undergone a major technological transformation, bringing faster movement and significant ease for road users. Building on this progress, year 2025 saw further people-c

From vulnerabilities to empowerment: Building resilience for small and marginal farmers

India’s small and marginal farmers are at the centre of a paradox in agrarian economy. They are the backbone of the food economy, but they are the most vulnerable stakeholders within agricultural economy. Among the 126 million farmers in India today, nearly makes 86% operate on small and marginal hol

Concerns over Mumbai air pollution ahead of Marathon

Environmental organisation Awaaz Foundation has flagged serious concerns over deteriorating air quality in Mumbai and the potential health risks it poses to participants of the Tata Mumbai Marathon scheduled for January 18. It has urged civic and pollution control authorities to conduct advance air quality


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter