If wages rise every year, the housing provident fund will also rise. The housing accumulation fund is based on the total wages payable by individuals, and the deposit ratio is 12%. As much as you pay each month, the company will pay it and deposit it in your personal account together with the part paid by the individual.

Characteristics of housing provident fund:

Urban workers, regardless of the nature of the work unit, family income and existing housing, must pay the housing provident fund in accordance with the provisions of the Regulations; If the unit fails to register the deposit of housing provident fund or set up a housing provident fund account for employees, the housing provident fund management center has the right to order it to handle it within a time limit. If no correction is made within the time limit, it may be punished according to the relevant provisions of the Regulations, and may apply to the people's court for compulsory execution; In terms of welfare, in addition to the housing provident fund paid by employees, the unit has to pay a certain amount for employees, and the interest rate of housing provident fund loans is lower than that of commercial loans; Return, retirement, resignation or complete loss of working ability, termination of labor relations with the unit, emigration or settlement abroad, etc. The paid housing provident fund will be returned to individual employees.

Because the current housing price level is too high, many young people living in cities can't afford the pressure, so they will choose to rent this relatively low-cost housing model, and the housing provident fund will also provide protection for renting. As long as there is a rental contract, you can apply for withdrawal of provident fund.

To sum up, the housing provident fund does not increase every year, so the housing provident fund is based on the total wages that individuals should pay, and the deposit ratio is 12%.

Legal basis:

Article 5 of the Regulations on the Management of Housing Provident Fund

The housing accumulation fund shall be used for the purchase, construction, renovation and overhaul of owner-occupied housing by employees, and no unit or individual may use it for other purposes.

Article 16

The monthly deposit amount of employee housing provident fund is the average monthly salary of the employee in the previous year multiplied by the deposit ratio of employee housing provident fund.

The monthly deposit amount of housing provident fund paid by the unit for employees is the average monthly salary of employees in the previous year multiplied by the proportion of housing provident fund paid by the unit.

Article 24

In any of the following circumstances, employees may withdraw the storage balance in the employee housing provident fund account:

(a) the purchase, construction, renovation and overhaul of owner-occupied housing;

(2) retirement;

(three) completely lose the ability to work, and terminate the labor relationship with the unit;

(4) Having left the country to settle down;

(5) Repaying the principal and interest of the house purchase loan;

(six) the rent exceeds the prescribed proportion of family wage income.

In accordance with the provisions of items (2), (3) and (4) of the preceding paragraph, the employee housing provident fund account shall be cancelled at the same time.

If an employee dies or is declared dead, the employee's heirs and legatees may withdraw the storage balance in the employee's housing provident fund account; If there is no heir or legatee, the storage balance in the employee housing provident fund account shall be included in the value-added income of the housing provident fund.