EPF provides it’s members the ability to renovate the house by making use of EPF Housing Loan scheme (Renovation by Alerting or Additions)
As per Para 68-B of the EPF scheme, a PF member should satisify the critieria listed below to be eligible for this scheme
- Should have completed 5 years of Service
- This can be used only once
- Amount would be paid to the individual (PF Member)
- Property should be in the name of member or member’s spouse or jointly held
- Annexure III should be submitted for Alternations/Additions
- EPF will provide upto 12 times the wages of the PF member (Basic+DA) (or) Full EPF contribution (or) Cost of Repairs (Lower of any of the 3 would be provided as loan amount)
Form 31 is the claim form that is used for submitting the Loan application.