EPFO( Employee’s Provident Fund Organization, India) is all set to launch EPFO Housing Scheme 2017 under Pradhan Mantri Awas Yojana for over 4 Crore members next month. As per the latest update by EPFO officials, by March 8, EPFO will launch a Housing Scheme that allows Employees to pay Down Payment as well as EMIs from the EPF. Yes, every month a fixed portion of salary is deducted in the form of EPF which is saved and retrieved by the employee at the time of retirement. Employees can now use this EPF before the retirement to pay monthly installments and Down Payment from their collective EPF amount for EPFO Awas Yojana.
EPFO Awas Yojana – EPFO Housing Scheme 2017
The EPF Housing Scheme 2017 will be valid only if subscribers and employers form a group housing society which would further tie up with banks and builders or sellers of homes so that EPFO members can buy homes under EPFO Awas Yojana. For this, atleast 20 members are to be included as the members of society, else benefits won’t be availed.
Another good part about EPFO Housing Scheme 2017 is that saying yes to this scheme allows them to avail the benefits of Center and State Government schemes like Pradhan Mantri Awas Yojana, Housing for All by 2022 etc.