EPFO New Housing Scheme 2017 Kolhan – 10 Lakh Members to Benefited

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EPFO New Housing Scheme 2017 Kolhan

On Tuesday, the regional office of Employees Provident Fund Organisation (EPFO) announced the launching of a housing scheme for its members, who are employees of various companies based in three districts of Kolhan- East Singhbhum, West Singhbhum and Seraikela-Kharsawan.

Eligibility Criteria for EPFO New Housing Scheme 2017 Kolhan

  • The Commissioner of Regional Provident Fund (PF) Mr. Ashok Kumar that said in order to take benefit of the housing scheme facility bonafide employees who are EPFO members will be required to form a society. It is an ambitious scheme and we are looking forward to making it a success.
  • Ashok Kumar informed that in order to avail the benefit of the scheme, the applicant should be an EPFO member for three years with accumulated PF balance of Rs 20,000. The member of the registered society can withdraw upto 90 percent of the accumulated amount in his or her PF account.

Read More: EPFO Group Housing Scheme for Its Subscribers – Apply | Guidelines | Application Form

  • Besides this, the EPFO commissioner said as per the new amendments in The Employees’ Provident Fund Act a registered member of the society can also make EMI payments for any loan from his or her PF Account.

Kumar went on to inform that there are about 10 lakh EPFO members in the three districts of Kolhan with the maximum number of members belonging to the Seraikela-Kharsawan district, which is a hub of small, medium and large scale industries. Of the 10 lakh EPFO members, two lakh of them have completed the formalities of KYC.

Read More: More Details of EPFO New Housing Scheme 2017 Kolhan

EPFO New Housing Scheme 2017 Kolhan

Kumar said that the main motto of introducing the housing scheme is incommensurate with the Union government’s mission of “Housing for All by 2022”.

Sources informed that the members would be allowed to club the benefits under various schemes of the center as well states like Pradhan Mantri Awas Yojana under the EPFO initiative for furthering government’s aim of housing for all.

The scheme will also help the formal sector workers proving their creditworthiness as the EPFO would provide a certificate indicating the subscribers’ paying capacity and ability to repay loans.

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