Housing accumulation fund refers to the long-term housing savings paid by state organs and institutions, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises and institutions, private non-enterprise units, social organizations and their employees.
The benefits of provident fund are many. For those who are interested in buying houses, they can apply for low-interest loans through the provident fund to improve their ability to improve housing conditions. For those who don't need to buy a house again, the provident fund has become a daily savings, which can be used as a supplement to the retirement pension; At the same time, when employees encounter unemployment, serious illness, etc., they can also apply for withdrawing the balance of paid housing provident fund to alleviate the difficulties of employees' family life.
Legal basis: Regulations on the Management of Housing Provident Fund
Article 16 The monthly deposit amount of employee housing provident fund shall be 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.
Eighteenth employees and units housing provident fund deposit ratio shall not be less than 5% of the average monthly salary of employees in the previous year; Conditional cities can appropriately increase the deposit ratio. The specific deposit ratio shall be drawn up by the Housing Provident Fund Management Committee and submitted to the people's governments of provinces, autonomous regions and municipalities directly under the Central Government for approval after being audited by the people's governments at the corresponding levels.