24 June 2017

EPFO, HUDCO inked pact for housing subsidy under PMAY

EPFO, HUDCO inked pact for housing subsidy under PMAY

Employees Provident Fund Organisation (EPFO) has signed an MoU with the Housing and Urban Development Corporation (HUDCO) to enable members of its housing scheme to avail subsidy and interest subvention under the Pradhan Mantri Awas Yojana (PMAY).

Under the housing scheme, the EPFO allows its subscribers for withdrawing up to 90 per cent of their EPF accumulations to buy homes. The MoU was signed in New Delhi. Now, EPFO members can avail interest subsidy upto two lakh twenty thousand rupees in Credit Linked Subsidy Scheme through HUDCO and National Housing Bank for those members whose annual income is less that the amount specified in Pradhan Mantri Awas Yojna.

Important Takeaways from Above News-
  • Union Labour and Employment Minister is Bandaru Dattatreya.
Source- The News on AIR

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