According to the housing provident fund managed by the Regulations, if employees withdraw the balance stored in the housing provident fund account, the provident fund management center shall approve or disapprove the withdrawal within 3 days from the date of accepting the application.

In the purchase, construction, renovation, overhaul of occupied housing, apply for housing provident fund loans, housing provident fund management center should make a decision on loan or not within 05 days after accepting the application.

After the application form for individual housing provident fund withdrawal is submitted and approved by relevant departments, the bank will remit money directly to the individual account.

Extended data:

The audit of housing provident fund withdrawal refers to the way that the local provident fund management centers (sub-centers, management departments) or bank outlets entrusted by the centers check the applicant's withdrawal qualification and the authenticity of the withdrawal behavior according to the relevant policies, regulations and business norms of housing provident fund, with the aim of ensuring the safety of housing provident fund funds and the earmarking of housing provident fund funds.

Housing accumulation fund is a long-term housing deposit paid by units and their employees, and it is the main form of monetization, socialization and legalization of housing distribution. The housing accumulation fund system is an important social security system for housing stipulated by national laws, which is mandatory, mutually supportive and guaranteed. Units and individual employees must fulfill their obligations to pay housing provident fund according to law.

References:

Housing accumulation fund extraction-Baidu Encyclopedia