Housing provident fund consists of two parts, one is paid by individuals, and the other is paid by units for employees. The monthly deposit amount of employee housing provident fund is the average monthly salary of employees in the previous year multiplied by the deposit ratio of employee housing provident fund. The amount remitted bilaterally = the company's contribution to the provident fund+the individual's contribution to the provident fund. If the provident fund is paid by the unit, it is unilateral. For example, due salary 10000 (including all received and uncollected money), the company pays the provident fund at 12%, that is, 1200, which is unilateral, and the other party pays 1200 by itself, which adds up to bilateral.
Conditions for applying for provident fund:
1, a natural person with full capacity for civil conduct;
2. Employees, individual industrial and commercial households, flexible employees and other provident fund depositors who hold valid accounts, identity cards or other valid documents and pay the provident fund normally;
3, in accordance with the relevant provisions of the monthly, continuous and full payment of provident fund for more than 6 months;
4. Have a stable occupation and income, and have the ability to repay the loan principal and interest;
5. There is a purchase contract or agreement that conforms to the law.
To sum up, provident fund loans are still the first choice for most people. Using the provident fund to buy a house, commercial loans can withdraw the provident fund for down payment, or they can withdraw the provident fund for debt service, and provident fund (portfolio) loans can withdraw the provident fund for debt service.
Legal basis:
People's Republic of China (PRC) social insurance law
Article 12
The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its employees stipulated by the state, and record it in the basic old-age insurance pooling fund.
Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.
Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.
Article 58
The employing unit shall, within 30 days from the date of employment, apply to the social insurance agency for social insurance registration for its employees. If the social insurance has not been registered, the social insurance agency shall verify the social insurance premium it should pay.
Employees-free individual industrial and commercial households who voluntarily participate in social insurance, part-time employees who do not participate in social insurance in the employing unit and other flexible employees shall apply to the social insurance agency for social insurance registration.
The state establishes a national unified personal social security number. Personal social security number is a citizen's identity number.