EPFO Housing Scheme 2017 (EPF) Application Forms Download | Benefits | Eligibility | EPFO plans to avail the houses for its members : about EPFO : norms of EPFO : procedure of EPFO to provide houses. EPFO under Housing For All Yojana.
EPFO Housing Scheme 2017
The Employees Provident Fund Organization (EPFO) has taken a decision to launch up a new housing scheme for the year 2017. The scheme is said to be launched in the month of March 2017. A source also revealed that the organization is waiting for the elections of five polls bound states to be over then the scheme will be officially launched. This year the housing scheme is to provide houses to around 4 crore members of the organization. The payment of these houses can be done by the down payments or EMI from the EPF account of the member.
EPFO Housing Scheme 2017 Basic Details
Organisation Name – EPFO – Employees Provident Fund Organization
Income – 15 to 20 Thousand Monthly
Benefit Up to – 6 Crore Peoples
Scheme Start From – March 2017
EPFO is an abbreviation of a very popular organization that is the Employees Provident Fund Organization. The organization is a Central Board of Trustees which was formed in 1952 by the Employees Provident Fund & Miscellaneous Provision Act. The organization is fully under the administrative control pf the Ministry of Labor and Employment, Central Government of India. It mainly offers Provident Fund Scheme, Insurance Scheme and the Pension schemes for the work force involved in organized sector of the country.
EPFO Housing Scheme Benefits
- Home loans under this scheme can be paid from PF and EMI facility is also available.
- The subscribers must form a group pf 20 members of the society.
- The loans to the housing society will be negotiated with the banks and builders.
- The dispute if arises, then it needs to be settled by the housing society or the lender.
- EPFO will not be responsible for any kind of repayments.
This year they come up with the housing scheme for its members. Under the EPFO ‘s housing scheme they will act as the facilitator to their members to buy homes for themselves during their service period. In the scheme the members just have to form groups in the housing society and in each group the required number of members is 20. Further all these groups will be tied up with the main parties of this scheme i.e. The banks, builders and the sellers. By doing so it will be easier for the EPFO members to buy houses for themselves.
EPFO Housing Scheme Eligibility
The subscribers will also be a beneficiary of various scheme of the central government such as the Pradhan Mantri Awas Yojana etc. This will be done under the initiative of EPFO for further adding into the central government ‘ s aim of housing for all. EPFO will also provide a certificate to the banks and sellers etc which will be indicating the member’s paying capacity and the ability to repay the loans. Moreover EPFO also stated that they will not be then responsible for any kind of dispute.
If any dispute occurs then EPFO will not participate in any kind of legal battle. The disputes needs to be settled either with the housing society or with the bank, seller or builder. The EPFO also holds a right to stop the monthly installment payment or the down payment of loan if it is requested by the executive head of the group housing society.
EPFO Housing Scheme 2017 Application Forms
- The first Step is yo create a 20 People Group.
- This Group will be make as a Hosing Society.
- Then This Housing Society will Tie Up with the Bank and Builder.
- The Work of Developer Start and he develop houses according to Housing Society.
- The Developer Distribute Houses to the Society Members.
So all the EPFO members and the subscribers must apply for this housing scheme after its official release. This is a great method of buying homes as the payment of loans are also made available of the easy monthly installments (EMI). The interested members can visit to the site of the EPFO to apply for the scheme. As the complete details and the date of release of this scheme will be stated in brief in the main web link of EPFO.
Offcial Website – EPFO India
Download Notification – Download Here
Check Out – WB Housing Scheme