The differences between housing provident fund and supplementary provident fund are as follows:
1. Different properties. Contribution to provident fund is compulsory; contribution to supplementary housing provident fund is voluntary;
2. The proportions are different. The contribution ratio of the provident fund is 7 for each unit and 7 for individuals, and the amount of deposits has upper and lower limits; the contribution ratio for the supplementary housing provident fund for units and individuals is within the range of no more than 9 each and not less than 1 each, and shall be determined by the unit itself. Confirmed, there is no upper or lower limit on the deposit amount;
3. Different qualifications. The payment of provident fund requires a work unit and the unit will pay housing provident fund to employees; the scope of supplementary housing provident fund payment has added restrictions on the basis of housing provident fund, stipulating that only enterprises that pay taxes in full and enterprises that are self-financing Only units and their employees can participate in the supplementary housing provident fund.
The provident fund payment ratio:
1. The provident fund payment ratio is 5 to 12%. The provident fund contribution ratio generally refers to the housing provident fund contribution ratio;
2. The employee’s average monthly salary in the previous year. This payment base shall not be less than 60% of the local average salary in the previous year. No higher than 300%. The payment rate ranges from 5 to 12 percent, with 8 percent being common.
To sum up, social security refers to pension insurance and medical insurance among state compulsory insurances. Unemployment insurance, maternity insurance and work-related injury insurance. The housing provident fund is called a fund.
Legal basis:
Article 26 of the "Regulations on the Administration of Housing Provident Fund"
Employees who contribute to the housing provident fund shall not When you live in your own house, you can apply for a housing provident fund loan from the Housing Provident Fund Management Center.
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.