EPFO signs MoU with HUDCO under new Housing Scheme of EPF & MP Act-1952

EPFO signs MoU with HUDCO under new Housing Scheme of EPF & MP Act-1952

Dr. V.P. Joy, Central Provident Fund Commissioner and Dr. M. Ravi Kanth, CMD HUDCO signed a Memorandum of Understanding (MoU) in the august presence of Union Minister of Urban Development, Housing & Urban Poverty Alleviation, Shri M. Venkaiah Naidu and the Minister of State (Independent Charge), Labour & Employment, Shri Bandaru Dattatreya for facilitating "Housing for All by 2022" here today.

By taking one step forward to achieve Hon'ble Prime Minister Shri Narendra Modi's vision of Housing for all by 2022, EPFO has amended EPF Scheme 1952 vide Gazette notification No. G.S.R. 351(E) dated 12th April, 2017 to provide assistance in acquiring affordable houses to the EPF members by allowing withdrawal from the provident fund to the extent of 90% of the total PF accumulation and also facilitating payment of installment of housing loan. The major objective of this scheme is to assist in building houses for workers integrating with housing programmes of the Central and State Governments.

The salient features of this scheme are:-

1. Bringing together all stake holders namely, workers, employers, financial institutions & housing agencies to provide workers' need for Housing.

2. Forming Housing societies for collective action, ten or more members can register a society. Society will arrange housing units from public/private housing providers, apply to the concerned PF office through the society for getting Certificate of Fund & Contribution.

3. Channelizing the corpus of EPF savings to build affordable housing for the working class, withdrawal of up to 90% of accumulations in members Provident Fund Accounts is allowed.

4. Banks/Financing Agencies can make use of certificate issued by Commissioner to arrive EMI for withdrawal under Para 68 BD (3) of EPF Scheme.

5. Full/ Part repayment of loans out of monthly P.F. Contributions.

6. Eligibility condition relaxed for such withdrawal, now membership period of EPF reduced from 5 years to 3 years.

7. Members can avail interest subsidy up to 2.20 lakh in Credit Linked Subsidy Scheme (CLSS) through Ministry of Housing and Urban Poverty Alleviation through its Nodal Agency HUDCO and National Housing Bank for those members whose annual income is less that the amount specified in Pradhan Mantri Awas Yojna.

8. Individual housing loan repayment can be done by authorizing EPFO to pay installments directly to the lending agency.

PIB

CGEWHO Kolkata Phase II Housing Scheme: FAQ & Pre-Final Costing

Kolkata (Ph II) beneficiaries are raising some frequent queries. Following are the clarifications:-

Pt i)	Annexures to be submitted alongwith the Possession Letter
Reply	Please be informed that while applying for the said project, CGEWHO Scheme Brochure which detailed CGEWHO Rules related to the scheme was provided and it was stated that you will have to abide by the CGEWHO Rules as given in the brochure. All the Annexures are part of CGEWHO Rules and there will be no change whatsoever in any of the clause given in the Annexures. All the possession letters will be issued abiding by the CGEWHO Rules which is approved by Governing Council, CGEWHO.
Pt ii)	Water Treatment Plant to be provided in the Complex
Reply	It is not out of place to mention here that nowhere in the Scheme Brochure or Technical Brochure it was mentioned that WTP would be provided, although in the contract it is written that the provision of WTP is subject to potability of water. Project Incharge, CGEWHO has been instructed to carry out the water potability test of all the four tubewells from Govt recognized Lab and the report reveals that the water is within the agreeable potability range.
Pt iii)	Status Service Road to be communicated from National Highway
Reply	With regard to the construction of service road which is to be undertaken by National Highway Authority of India (NHAI), CGEWHO is closely monitoring the progress and Jt Secretary (H), M/o HUPA & Chairman, Executive Committee, CGEWHO has issued a DO also requesting the Chairman, NHAI to expedite the issue at the earliest. CGEWHO officials are also regularly monitoring the progress with NHAI. However it is informed that CGEWHO through its contractor tried to construct the motorable road but due to local villagers and NHAI objections, not able to progress further.
Pt iv)	Status of land scaping work
Reply	Please be informed that the common services of complex will be handed over to the elected AOA in a perfect condition and there is no urgency to CGEWHO to hand over the DUs/ complex in an unfinished condition.
Pt v)	Status of Project
Reply	The entire housing project is habitable and any beneficiary can move in and live comfortably.
Pt vi)	Break-up of Final Costing
Reply	The break up of the final costing is attached as Annexure I. The service tax is an integral part of the cost of DUs and it can’t be shown separately in the possession letters. Provision of the Reserve Fund is as per CGEWHO Rules.

Annexure I

C G E W H O

KOLKATA PHASE - II HOUSING SCHEME

PRE - FINAL COSTING

SL NO	PARTICULARS	TOTAL COST Rs
1	Cost of DU's as per Contract including 449 Parking	1448378600
2	Material & Labour Escalation	593489157
3	Difference Cost of Cement & Steel	154815999
4	Registration Charges	17005466
5	Proof Consultancy	1654500
6	Interest Paid to NHB Loan	29362073
7	Deficit / Surplus Allocation	-59657000
8	Cost of Project Management Consultancy	14202295
9	CGEWHO Overheads	49556153
10	Service Tax on Instalment	63092273
11	Deviation Order ( Electrical & C. Coil B/W )	18830184
12	Electricity Connection Charges	3204480
	Sub Total Rs. (A)	2333934180
14	Miscellaneous Expenses and Contingencies	12500000
	Sub Total Rs (B)	2346334180
15	Reserve Fund @ 1.5% of (B) above	35196513
	Total Cost Chargeable to DU's and Parking (C)	2381630693
16	Recovery on account of Parking ( 449 @ Rs.275000/-)	123475000
	Sub Total Rs. ( D)	2258155693
17	Amount Credited to Project
	a) Intt. on a/c of Equalisation Charges credited to project	38698089
	Total Cost Chargeable to DU's (E)	2219457604
	Cost per DU's	2673.00
TYPE OF DU's NO OF DU's AREA In Sq Ft RATE In Sq Ft COST OF DU'S SOCIETY CHARGES TOTAL Rs. A 36 664.00 2673.00 1774872 26623 1801495 B 156 1196.00 2673.00 3196908 47954 3244862 C 192 1458.00 2673.00 3897234 58459 3955693 D 198 1716.00 2673.00 4586868 68803 4655671

Source: http://www.cgewho.in/KL_FAQ0001.pdf

No plan to launch housing scheme for EPFO members: Government

No plan to launch housing scheme for EPFO members: Government
 New Delhi, Nov 26:

Retirement fund body EPFO has no plans to launch a housing scheme for its over five crore subscribers on additional contribution by its members, Parliament was informed today.

“No Sir,” Labour Minister Bandaru Dattatreya said in a written reply to the Rajya Sabha on a question whether Employees’ Provident Fund Organisation (EPFO) has chalked out a scheme for providing housing to its subscribers on additional contribution.

The idea to provide housing by EPFO on additional contribution 10 per cent of subscribers’ basic wages was mooted earlier this year by Labour Minister Oscar Fernandes during a function of the body in January.


Addressing the gathering, Fernandes who was also heading the EPFO trustee’s board had said, “EPFO can deduct extra 10 per cent of their basic wages over the mandatory contribution of 12 per cent made by them at present. The money can be used to provide them housing facility.”

The Minister had also said, “Most of the workers throughout their working life live in rented accommodation and their entire saving on retirement is spent on purchasing a house.”

At present, all workers covered under the EPFO schemes, pay 12 per cent of their basic wages toward PF contribution every month. The basic wages include basic pay and dearness allowance.

Read more at Hindu Businessline

CGEWHO Kolkata (Phase-II) Housing Scheme: Notice for meeting

CGEWHO Kolkata (Phase-II) Housing Scheme: Notice for meeting

TO ALL BENEFICIARIES OF KOLKATA (PHASE-II) HOUSING SCHEME

On 29th August 2014 (Friday) at 10:00 Hours Shri Akhilesh Kumar, Officiating CEO, CGEWHO intends to meet the beneficiaries of Kolkata (Phase-II) Project at the Project Office.

In the meeting all the concerned officials shall remain present. All Beneficiaries, specifically who are raising queries and writing frequently to the Ministry/CGEWHO are hereby informed about the above visit.

Source: http://www.cgewho.in/kol-2.pdf