NCLT: Suspended Directors Who are Prospective Resolution Applicants Cann’t Access Valuation Reports  ||  Supreme Court Clarifies Test For Granting Bail to Accused Added at Trial under Section 319 CrPC  ||  SC: Fresh Notification For Vijayawada ACB Police Station not Required After AP Bifurcation  ||  SC: Studying in a Government Institute Does Not Create an Automatic Right to a Government Job  ||  NCLT Mumbai: CIRP Claims Cannot Invoke the 12-Year Limitation Period For Enforcing Mortgage Rights  ||  NCLAT: Misnaming Guarantor as 'Director' in SARFAESI Notice Doesn't Void Guarantee Invocation  ||  Jharkhand HC: Mere Breach of Compromise Terms by an Accused Does Not Justify Bail Cancellation  ||  Cal HC: Banks Cannot Freeze a Company's Accounts Solely Due To ROC Labeling a 'Management Dispute'  ||  Rajasthan HC: Father’s Rape of His Daughter Transcends Ordinary Crime; Victim’s Testimony Suffices  ||  Delhi HC: Judge Who Reserved Judgment Must Deliver Verdict Despite Transfer; Successor Can't Rehear    

Government to Amend EPF Scheme, 1952 to Enable EPF Members to Withdraw upto 90 Percent Fund for Purchase of House- (Press Information Bureau) (16 Mar 2017)

MANU/PIBU/0212/2017

Service

The Government has taken a decision for modification in the Employees' Provident Funds (EPF) Scheme, 1952 to add a new paragraph 68 BD under which a member of Employees' Provident Fund (EPF), being a member of a co-operative society or a housing society having at least 10 members of EPF, can withdraw upto 90 per cent from the Fund for purchase of dwelling house/flat or construction of dwelling house/acquisition of site. Monthly installments for repayments of any outstanding payments or interest may also be paid from the amount standing to the credit of the member, to the Government/housing agency/primary lending agency or banks concerned. The total number of Employees' Provident Fund (EPF) member accounts as on 31.03.2016, as per Annual Report for 2015-16, is 17.14 crore. On an average, contributions have been received in respect of 3.76 crore members during the year 2015-16. The withdrawal facility from the Provident Fund (PF) account under the Scheme will be available to only those PF members who fulfill the conditions prescribed. This information was given by Shri Bandaru Dattatreya, the Minister of State (IC) for Labour and Employment, in written reply to a question in Rajya Sabha.

Tags : EPF SCHEME   AMENDMENT   FUND   WITHDRAWL  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved