Intermediaries may abscond with money when they take the provident fund, while individuals who illegally take it will be recovered by the provident fund management center. Illegal withdrawal of provident fund may be suspected of a criminal offence and face punishment. The withdrawal of provident fund needs to meet certain conditions and go through corresponding procedures.

Intermediary absconded with money: once the intermediary absconded after taking the provident fund, it may lead to the unrecoverable money, which makes people empty.

Consequences of illegal withdrawal of provident fund: if illegal withdrawal of provident fund is found, it will not only affect future provident fund loans, but also be suspected of criminal offences. If the circumstances are serious, the maximum sentence can be more than 3 years 10 years.

Consequences of personal illegal withdrawal: Once it is found that an individual illegally withdraws the provident fund, the provident fund management center can recover it according to law, and the fees previously paid to the intermediary will be wasted.

I hope the above content can help you. If in doubt, please consult a professional lawyer.

Legal basis:

According to Article 24 of the Regulations on the Management of Housing Provident Fund, employees can withdraw the provident fund under certain circumstances. However, relevant materials need to be provided, verified by the unit and approved by the housing provident fund management center.