[ Legal basis ]]
Article 5 of the Regulations on the Administration of Housing Provident Fund
The housing provident fund shall be used by employees to purchase, build, renovate or overhaul their own houses, and no unit or individual may use it for other purposes.
article 15
employees who are on the job shall go through the deposit registration at the housing provident fund management center within 3 days from the date of their employment, and go through the formalities for the establishment or transfer of employee housing provident fund accounts at the entrusted bank with the audit documents of the housing provident fund management center. Where the employee of the unit terminates the labor relationship, the unit shall, within 3 days from the date of termination of the labor relationship, go to the housing provident fund management center to register the change, and go to the entrusted bank to handle the transfer or sealing procedures of the employee's housing provident fund account with the audit documents of the housing provident fund management center.
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