The Employee Provident Fund Organisation (EPFO) has introduced a group housing scheme which allows subscribers to withdraw 90 percent of the total money put in the retirement body fund for realty investments.
The funds in EPFO can be used to construct units in non-governmental housing projects too. The current scheme only allows investment into government or notified housing projects.
Under the new scheme – on lines of the government’s ‘Housing for All’ initiative - customers can also avail loans at subsidised rates under the Pradhan Mantri Awas Yojana (PMAY).
