Legal basis: Regulations on the Management of Housing Provident Fund
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.
Article 19 The housing accumulation fund paid by individual employees shall be withheld and remitted from their wages by their units.
The unit shall remit the housing provident fund paid by the unit and remitted for the employees to the housing provident fund account within 5 days from the date of monthly payment of employees' wages, and the entrusted bank shall include it in the employee housing provident fund account.