A New Housing Scheme to be Launch Soon for EPF Subscriber in Telangana

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This news will be a good news for EPF subscribers who are living homeless in the city. Finally, the Union Labour Minister is planning to launch Group Insurance Housing Scheme with an aim of providing housing for all homeless subscribers of the Employees’ Provident Fund (EPF) scheme by 2022.

On Monday, the Union Labour Minister Bandaru Dattatreya Stated that the EPF subscribers, employees of private organisations, would be allowed to withdraw 90 percent of the EPF amount and would also be arranged loans with lower interest rates under the scheme.

He also said that the Centre has also introduced a slew of worker-friendly measures since 2014 as part of the better welfare of the community.

According to the Union Minister statement over 4 lakh, workers/employees of 1.4 lakh employees in Telangana were newly enrolled under the EPF scheme from January 1 to March 31 this year. As part of the amnesty scheme taken up by the ministry to bring the non-subscribers into the EPF fold.

He also informed that the government has also taken and important decision to increase the investment of EPFO funds in the stock markets from the existing 10% to 15% so that more benefits could be extended to the members. While the annual return on the investment so far had increased from 6.5% to 13%.

According to the information, there were 55 lakh subscribers under EPF in Telangana. Off these, about 24 lakh had already activated their Universal Account Numbers (UAN) and 11 lakh had linked their PF accounts with their Aadhar Cards.

The Union Minister said it was serving 15 lakh PF subscribers from 8,000 organisations and had also 27,000 pensioners.

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