EPFO Housing Scheme 2017 : Employee Provident Fund Organization (EPFO) is taking some good initiatives day by day, which are very helpful to all EPF subscribers. For example recently employee provident fund organization has introduced new composite forms, and new unified PF portal and making lot of decisions towards the benefit of employee. In the same way recently union minister of lobour Sri Bandaru Dattatreya has announced that EPFO is going to launch a group insurance housing scheme for all EPF subscribers who are homeless.
Uner EPFO Housing Scheme 2017 EPFO Plans To Provide Housing Scheme For PF Subscribers By 2022
The central government of India is planning to provide houses for all home less citizens by 2022. In order to support that scheme recently Employee Provident Fund Organization has also planning to introduce a group insurance housing scheme for all homeless subscribers of EPFO.
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This was told by Sri Bandaru Dattatreya union labour minister for labour at an event of inauguration of regional PF office, Kukatpalli, Hyderabad.With in very few days this scheme is going to come in force.
As per this new scheme every employee will get 90% of their EPF amount as an advance with very low interest rates. This was very beneficial to all homeless subscribers. Under this scheme employees and employer need to form a group so that they can further take help from banks in order to get loan. The minimum number of individuals for each group should be atleast 20. If is there any problem arises in the group then based on the request of group head employee provident fund orgnization will stop making payment to loan installments.
Earlier employees who are contributing towards employee provident fund needs to submit PF form 31 to get EPF advances for medical treatment , construction of houses, marriage of self and dependents and for housing loans. There are nearly 4 crore employees are going to get benefit under EPFO housing scheme 2017.