EPFO Housing Scheme: Employees Provident Fund Organisation (EPFO) will launched an special kind of housing scheme named as EPFO Housing Scheme for its subscriber. The scheme will benefit over 4 crore member by providing them a way to buy a house in the easy payments.
EPFO housing Scheme will allow the subscribers to make down payment and pay EMIs from their EPF accounts to buy homes.
According to the information received from the source, the Employees Provident Fund Organisation (EPFO) has firmed up a housing scheme for it subscribers. The scheme is likely to be launched anytime after March, 8 when voting in five poll bound states would be over. And further he also added that under the scheme, the EPFO will act as a facilitator for its subscribers to buy homes for themselves during their service period.
The source said that the subscribers as well as their employers would be required to form a group housing society which would further tie up with banks and builders or sellers of homes so that EPFO members can buy homes.
It is informed by the user that there should be at least 20 member in the group housing society under the scheme to avail the benefits.
The scheme would also allowed the beneficiary to get the benefits of various centre and state sponsored scheme such as scheme Pradhan Mantri Awas Yojana housing for all.