Date : 18.9.2016

Government To Bring Out Low-Cost Housing Scheme For PF Subscribers

The Labour Ministry will come out with a scheme to provide low-cost housing for Employees' Provident Fund Organisation(EPFO) subscribers, Union Minister Bandaru Dattatreya said on Sunday.

"To further encourage members to continue their PF membership throughout their working life we are actively considering a proposal to assist PF members in getting a house by pledging their present and future PF accumulations.

 The members would be free to procure a house wherever they want," Mr Dattatreya, the Union Minister of State for Labour and Employment, told reporters here. 

"We expect members to be benefitted by this (new scheme) by ensuring that they use their long-term savings in PF to buy a life asset of house. This would contribute to the dream of Prime Minister Narendra Modi to ensure 'Housing for All by 2022," the minister added.