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Withdrawal from provident fund to facilitate housing needs of workers - Presentation thereof. - The Employees Provident Funds and Miscellaneous Provisions Act, 1952

EPFO has reviewed the procedure for withdrawal of provident fund to facilitate housing needs of workers. Silent features of the scheme is enclosed herewith for your information. Few bullet points are as under;

1) EMI facility to member
2) PF membership is reduced to 3 years from 5 years
3) Member can apply individually/jointly through housing society
4) PF member can get e-passbook from website
5) Payment directly to agency
6) EPFO to assist member who does not have repaying capacity
7) Provision for EMI facility for repayment of loans
8) Facility of Pradhan Mantri Awas Yojana (PMAY)
9) Interest subsidy of 2.20 lakhs to those members whose income is less than the amount specified in PMAY

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