1. What is the provident fund withdrawal ratio?
1. To pay rent for housing within the city, the employee himself and his family members must not own a house within the city. The monthly withdrawal amount shall not exceed 50% of the deposit amount payable in the month of application. The monthly withdrawal amount shall not exceed 12 months each year, and the withdrawal may be applied for twice each year. The remaining balance that has not been withdrawn in the current year can be withdrawn in the future. Annual cumulative withdrawals.
2. Legal basis: Article 25 of the "Housing Provident Fund Management Regulations"
If an employee withdraws the balance in the housing provident fund account, the unit where he works shall verify it and issue a withdrawal certificate prove.
Employees should apply to the Housing Provident Fund Management Center to withdraw housing provident funds with the withdrawal certificate. The Housing Provident Fund Management Center shall make a decision on whether to approve the withdrawal or not to allow the withdrawal within 3 days from the date of accepting the application, and notify the applicant; if the withdrawal is approved, the entrusted bank shall handle the payment procedures.
Article 26
Employees who have paid housing provident funds may apply for housing provident fund loans from the Housing Provident Fund Management Center when purchasing, constructing, renovating or overhauling their own homes.
The Housing Provident Fund Management Center shall make a decision on whether to grant a loan or not within 15 days from the date of accepting the application, and notify the applicant; if the loan is granted, the entrusted bank shall handle the loan procedures.
The risks of housing provident fund loans are borne by the housing provident fund management center.
2. What is the purpose of the provident fund?
The purposes of the provident fund are as follows:
1. Purchase of a house;
2. Construction, renovation, Overhaul the house;
3. Rent a house;
4. Parents buy a house for their children;
5. Close the account and withdraw the entire balance.