Saturday, September 23, 2023

EPFO launches housing scheme for members in Kolhan, 10 lakh members to benefit

Himalayan Paths

Jamshedpur, May 9 : The regional office of Employees’ Provident Fund Organisation (EPFO) on Tuesday announced launching of a housing scheme for its members, who are employees of various companies based in three districts of Kolhan- East Singhbhum, West Singhbhum and Seraikela-Kharsawan.

Regional Provident Fund (PF) commissioner Ashok Kumar that said in order to take benefit of the housing scheme facility bonafied employees who are EPFO members will be required to form a society. ” It is an ambitious scheme and we are looking forward to make it success.

For availing the facility he or she should be a EPFO member for three years with accumulated PF balance of Rs 20,000. The member of the registered society can withdraw upto 90 per cent of the accumulated amount in his or her PF account,” explained Kumar talking to newsmen at his Mango office.

Moreover, the PF commissioner said as per the new amendments in The Employees’ Provident Fund Act a registered member of the society can also make EMI payments for any loan from his or her PF Account.

Kumar went on to inform that there are about 10 lakh EPFO members in the three districts of Kolhan with the maximum number of members belonging to the Seraikela-Kharsawan district, which is a hub of small, medium and large scale industries. Of the 10 lakh EPFO members, two lakh of them have completed the formalities of KYC.

Kumar said that the objective of introducing the housing scheme is in commensurate with the Union government’s mission of “Housing for All by 2022�.

Sources informed that the members would be allowed to club the benefits under various schemes of the centre as well states like Pradhan Mantri Awas Yojana under the EPFO initiative for furthering government’s aim of housing for all.

The scheme will also help the formal sector workers proving their credit worthiness as the EPFO would provide a certificate indicating the subscribers’ paying capacity and ability to repay loans.

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