Any Employee can fund higher education of his/her children or self by making use of this option. This comes under Para 68-NN of the EPF scheme.
This can be availed by any Employee provided these criteria are satisfied
- Can be used for self or for children
- Post Matriculation Education (Only can be used for UG/PG/Diploma or any other course about 10th)
- Can be availed for 3 times during the entire lifetime of an Employee
- 7 years of service should be completed by Employee
- 50% of Employee’s EPF share would be provided as Funding amount