Withdrawal from provident fund to facilitate housing needs of members
The Govt. of India vide notification dated 12-04-2017 has introduced a new para 68-BD in the EPF Scheme, 1952 whereby the members can avail housing loan as well as payment of instalments.
|Sr. No.||Main Points||Description|
|Conditions on the member||
|Quantum of amount||Not exceeding the 90% of the accumulation (including members and employers share and interest) or the cost of acquisition, whichever is less.|
|Facility of instalments||Where member desires and authorizes, monthly instalment for repayment (wholly or partly) of any outstanding principal or interest of a loan.|
|Payment made in the name of||
|Form||Has to apply in a prescribed form|
A Copy of Gazette Notification is available at Sr. No. 30 of office order on EPFO portal.Click Here
It is requested that details of the scheme may be conveyed properly to all employees of your establishment, so that in-case of need, they may avail housing scheme facility under EPFO.