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

On a personal note: DIVINE

An underground rapper who grew up on Mumbai streets, Divine spins his music around his environment and poverty. His breakout single, ‘Meri Gully Mein’, along with fellow rapper Naezy caught Bollywood’s attention. The Hindi film ‘Gully Boy’ is inspired by their lives and gr

The role model for an IAS officer

Anil Swarup, an IAS officer of Uttar Pradesh cadre who retired in 2018, is a model bureaucrat who retained his optimism right till the end of service and exemplified dedication and commitment. His excitement at the opportunities that a job in the IAS provided is evident on every page of his new book publis

Reform of the civil services: At home and away

The question of reform of the civil services has been debated extensively at all levels at least over the last five to six decades after independence. Indeed, it was soon perceived that the Indian Administrative Service (IAS) may not be well equipped to deal with the problems of an emerging developing coun

The greatest challenge for any government

Shouting vengeance at all and sundry while wriggling out of holes of our own making seems to be our very special national characteristic. Some recent instances are illustrative of this attribute. A number of business tycoons with thousands of crores of unresolved debts have fled abroad with the government

The mysterious case of CBI’s legality

The Central Bureau of Investigation (CBI) came into existence, based on a Resolution of the home ministry, dated April 1, 1963 – a sheer coincidence that it also happens to be April Fool’s day. Over the past few months, we have seen the CBI live up to its founding day with great zeal, being i

The Evolution of Modi

Gujarat was passing through a turbulent phase in the 1980s. The decade began middle class agitations against new reservation policies, and the caste friction turned communal under the watch of chief minister Madhavsinh Solanki, alienating majority of urban population on both counts. The ground was ripe for

Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter