EPFO subscribers may get home and education loan soon: Sources
Sources say that the proposal suggests that the surplus and the unclaimed amount can also be used by the retirement fund body. It suggests that the subscribers should be granted specific loans like home loan, car loan and education loans for their children. It says that in these loan, his/her future contribution can also be taken into account by the retirement fund body.
The Central Board of Trustees have received a proposal that asks it to register Employees' Provident Fund Organisation (EPFO) as a Financial Services Entity (FSE). Image source: Reuters