EPFO contributory/member can withdraw 90% of epfo accumulation

This seems that the expectation of government to have each individual have their own house by 2022 will become real.

The new rule according to which allowing the members of EPFO or the contributories to withdraw  their accumulations upto 90 percent to purchase their own house. According to which the member can make payments and EMI payments for their house from their accumultion provided the member should be registered with the housing society which has itself to be registered and having atleast 10 members constituting the registered society.

an employee alloted the PF number have been considered as the member of EPFO. The new rules will be in addition to the existing rules for withdrawl of PF by the employees to fund their home buyings.He can withdraw funds in their individual capacity if he does not want to be a member of a housing society, provided all the requisite documents are in place. since the previous rule prevails, he can still withdraw in his individual capacity to purchase a house.

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