Withdrawal under EPF housing scheme

Under the housing scheme, the Employees Provident Fund Organisation (EPFO) allows its subscribers from societies for withdrawing up to 90 per cent of their EPF accumulations to buy homes.

The labour ministry intends to facilitate at least 10 lakh subscribers in the next two years by allowing them to use 90 per cent of EPF accumulations to make down payments to buy houses and use their accounts for paying off EMIs of home loans.

Home loan EMIs by EPF

In April this year, the EPFO had amended the EPF Scheme to enable subscribers to make down payment to buy homes and pay EMIs through the EPF account.

PMAY

Under the PMAY, the beneficiaries are provided credit linked subsidy based on their income levels so that the dream of housing for all can be realized by 2022.

HUDCO

The HUDCO is a nodal agency for implementation of credit linked subsidy scheme for middle and lower-income groups and economically weaker section under the PMAY.