EPFO Housing Scheme 2017 is a unique kind of housing scheme which rather constructing houses facilitates home loans for the employees. Based on this fundamental, EPFO has finally launched this housing scheme in three districts of Kolhan namely, East Singhbhum, West Singhbhum and Seraikela-Kharsawan. Employees working in these districts and having a EPFO membership will not benefited under EPFO housing scheme Kolhan.
How to Avail Benefits of EPFO Housing Scheme Kolhan
- Employee has to be a member of a registered housing society having at least 10 members
- Bonafied employees who are EPFO members are required to form a society for which they can withdraw upto 90% of their saved EPFO funds
- The tenure of EPFO membership of the employee should not be less than 3 years
- The accumulated PF balance should not be less than Rs 20,000
- If a registered member of the society wishes to make EMI payments, he can use his or her PF Account
As per the latest updates, right now around 10 lakh EPFO members are present in the three districts of Kolhan. Out if them, 2 lakh members have already completed the KYC formalities and made their way to EPFO housing scheme Kolhan gateway.
News Source: http://www.avenuemail.in/jamshedpur/epfo-launches-housing-scheme-members-kolhan-10-lakh-members-benefit/107965/