Employees’ Provident Fund Organization
(Ministry of Labor & Employment, Govt. Of India)
Bhavishya Nidhi Bhawan, 14-Bhikaiji Cama Place. New Delhi-110066
Telephone: 011- 26172685 Fax: 011-26173022 Email: [email protected]
No. WSU/39(1)2017/Housing Scheme/3988 Date: 19th May 2017
All ACCs (HQ)/ACCs (Zones) &
All RPFCs- In charge of Regional Offices.
Sub: Withdrawal from provident fund to facilitate housing needs of workers – Presentation thereof.
Ref: Head Office circular of even number dated 21.04.2017 & 02.05.2017 (placed on EPFO website at SI. No. 30 & 50 respectively on ‘office orders/circulars’ for 2017-18).
Please refer to the above said subject.
2. Please find enclosed copies of two presentations on ‘EPFO Housing Scheme for PF members’ and ‘EPFO Housing Scheme’ for taking necessary action by the field offices for awareness campaign amongst the PF subscribers, trade unions and the employers.
(K. L. Taneja)
Addl. CPFC (HQ)-Enroll &. Housing
Encl: As above
Employees’ Provident Fund Organization
(A Statutory Body under Ministry of Labor & Employment, Govt. of India)
EPFO Housing Scheme for PF members-Salient Feature
- To facilitate housing needs of EPF Members
- Insertion of new provision- Para 68-BD in EPF Scheme, 1952
- Applicable from 12th April 2017- Date of Notification
- EPF Member can apply for withdrawal up to 90 % PF accumulations in PF Account
- EMI facility to members
- Withdrawal allowed only once
- Required – PF Membership of 3 years
- Required – Minimum PF balance of 20,000 individually or including that of spouse who is also a member of Fund
- Required – Membership of a registered society having 10 or more members
- Applicable for – Purchasing dwelling houses/ flats; Construction of dwelling houses including acquisition of a suitable site
- Purchased from – Government, Any Housing Agency under any housing scheme or any promoter/ builder
- Member can apply individually/jointly through housing society in the prescribed format to the Commissioner
- Commissioner to issue certificate specifying balance in provident fund accounts along with monthly contribution during last 3 months
- Alternatively PF members can get print out of their e passbooks from EPFO website
- Payment directly to agency
- EPFO – Not to recommend or associate in the agreement with any builder/ promoter/ housing agency/ society
- EPFO to assist members not having repayment capacity
- In addition to lump sum withdrawal, members can opt full/ part repayment of loans out of monthly PF contributions
- Provision of Equated Monthly Installments (EMI) facility for repayment of loans to EPF members.
- Banks / lending institutions can make use of certificate issued by commissioner containing PF contribution details to arrive EMI for withdrawal under para 68 BD (3) of EPF Scheme
- Composite claim forms can be used by members for availing above facility
- Letter of authorization cum undertaking to be given by member for EMI payment out of PF contributions
- Facility of Pradhan Mantri Awas Yojna (PMAY)
- For members whose annual income is less than amount specified in PMAY and do not own house in the name of any family member anywhere in India.
- Can avail interest subsidy upto Rs 20 lakhs in Credit Linked Subsidy Scheme (CLSS)
- This subsidy is disbursed by Ministry of Housing & Urban Poverty Alleviation (MoHUPA) , of India through its nodal agency HUDCO and National Housing bank
- Details available in www.mhupa.gov.in
- For availing subsidy, member may get loan from public I private sector banks, cooperative banks and housing finance companies
- Details available at http://mhupa.gov.in/writereaddata/ews-lig-pli.pdf and http://mhupa.gov.in/writereaddata/mig-pli.pdf
- HUDCO to facilitate implementation of scheme jointly with EPFO through its various field offices.
Download Presentation on EPFO Housing Scheme for PF Members