EPFO Housing Scheme 2024 – Application Form, Results
EPFO Housing Scheme in May: EPFO will launch a housing scheme next month for its over four crore members to enable them to make down payment and pay EMIs from their PF accounts to buy homes.
About EPFO 2024: The Employees’ Provident Fund came into existence with the promulgation of the Employees’ Provident Funds Ordinance on the 15th November, 1951. It was replaced by the Employees’ Provident Funds Act, 1952. The Employees’ Provident Funds Bill was introduced in the Parliament as Bill Number 15 of the year 1952 as a Bill to provide for the institution of provident funds for employees in factories and other establishments.
Features of EPFO Housing Scheme
- Home loans can be paid from PF.
- Subscribers must form housing society of minimum 20 members
- Housing society to negotiate loans with banks, builders.
- Disputes on repayment need to be settled with housing society & lender. EPFO will not be envolved.
The source said that the subscribers would be allowed to club the benefits under various schemes of the Centre as well as states such as the Pradhan Mantri Awas Yojana under the EPFO initiative for furthering government’s aim of housing for all. The scheme will also help formal sector workers to prove their credit worthiness.
