HUDCO and EPFO sign MoU to facilitate HFA Mission

HUDCO and EPFO sign MoU to facilitate HFA Mission

Dr. M Ravi Kanth, Chairman & Managing Director, Housing & Urban Development Corporation (HUDCO) and Dr. V.P. Joy, Central Provident Fund Commissioner, EPFO, signed an MoU in the august presence of Hon’ble Minister, Housing & Urban Poverty Alleviation, UD & I&B, Shri M Venkaiah Naidu and Hon’ble Minister of State (Independent Charge), Labour and Employment Shri Bandaru Dattatreya for facilitating Housing for All Mission. In this regard, Employee Provident Fund Scheme 1952 has been amended to facilitate withdrawal of 90% of Employer /Employee contribution for Housing purpose. Further, dovetailing of CLSS subsidy under Pradhan Mantri Awas Yojana (Urban) and housing loans through HUDCO Niwas to the EPF subscribers is envisaged. EPF will also facilitate payment of EMI towards housing loan from EPF contribution of member. HUDCO & CBT (EPF) will jointly disseminate information regarding benefits under PMAY (U) – CLSS to EPF members throughout the country.