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Govt to amend EPFO Act to enable subscribers to buy homes

Govt to amend EPFO Act to enable subscribers to buy homes

Wednesday, March 15, 2017, 8:13 PM

Government will amend EPF scheme to enable around 4 crore members of retirement fund body EPFO to withdraw up to 90% of their fund for making down payments while buying homes, Parliament was informed on Wednesday. The amendment in the scheme will also allow the Employees’ Provident Fund Organisation subscribers to use their EPF accounts for paying equated monthly instalments (EMIs) of home loans.

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