• J. MEHTA & Company
  • J. MEHTA & Company
  • J. MEHTA & Company
  • J. MEHTA & Company
  • J. MEHTA & Company


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
MoLE Notification
  • Dated 12-04-2017
  • Inserted a new para 68BD in the EPF Scheme
Conditions on the member
  • Member of a co-op society or member of a society registered under any law, with atleast 10 members of the fund.
  • Membership of the fund for minimum of three years
  • Can only be availed once
  • Minimum contribution with interest should not be less than Rs. 20,000
  • The property may be purchased either in the name of member or spouse of the member or jointly.
  • For purchase of dwelling house or flat including flat in a building owned jointly with others or construction of dwelling house including the acquisition of suitable site for the purpose.
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
  • Payment will be made directly to the co-op society / society / Central Govt / State Govt / any other housing agency / promoter / builder.
  • If withdrawals or finance granted exceeds the amount actually spent for the purpose, the excess shall be refunded by the member to the fund in one lump sum within thirty days of the finalization of the purchase or the completion.
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.

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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.