You can call/consult the local provident fund management center to inquire about the opening bank of the provident fund, or you can log on to the website of the housing provident fund and enter your username and password to inquire about your own provident fund.
General provident fund management centers will entrust this business to four major banks (China Bank, China Agricultural Bank, China Construction Bank and China Industrial and Commercial Bank), and some places will also entrust it to other banks.
I. Definition of Provident Fund
Provident fund, also known as company reserve fund, refers to a sum of money drawn from the company's profits according to law in order to enhance its own property capacity, expand production and operation and prevent accidental losses, and is not used as part of income or dividend distribution income. Mainly used for: making up the company's losses, expanding the company's production and operation, and increasing the company's capital.
The housing accumulation fund system is actually a housing security system and a form of monetization of housing distribution. The housing accumulation fund system is an important social security system for housing stipulated by national laws, which is mandatory, mutually supportive and guaranteed. Units and individual employees must fulfill their obligations to pay housing provident fund according to law. The housing provident fund paid by individual employees and the housing provident fund paid by the unit shall be stored in special accounts and owned by individual employees.
Statutory provident fund, also called compulsory provident fund, refers to the provident fund that must be drawn according to the proportion stipulated by law. Arbitrary reserve fund, also known as arbitrary surplus reserve fund, refers to the reserve fund freely drawn outside the statutory reserve fund according to the company's articles of association or resolutions of the shareholders' meeting.
Second, the other meaning of the provident fund
Housing accumulation fund refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units, social organizations and their employees.
The definition of this housing provident fund includes the following five aspects:
(1) The housing accumulation fund is only established in cities and towns, and the housing accumulation fund system is not established in rural areas.
(2) Only on-the-job employees can establish the housing accumulation fund system. Unemployed urban residents do not implement the housing provident fund system, and retired workers do not implement the housing provident fund system.
(3) The housing accumulation fund consists of two parts, one part is paid by the employee's unit, and the other part is paid by the employee. After the individual contributions of employees are withheld by the unit, they will be paid into the individual account of housing provident fund together with the unit contributions.
(4) The long-term nature of housing provident fund deposit. Once the housing provident fund system is established, employees must be paid continuously in accordance with the regulations during their employment, and shall not be suspended or interrupted except for employees' retirement or other circumstances stipulated in the Regulations on the Administration of Housing Provident Fund. It embodies the stability, unity, standardization and compulsion of housing provident fund.
(5) Housing provident fund is a personal housing savings fund for employees' housing consumption expenditure, which has two characteristics: first, it is cumulative, that is, although housing provident fund is an integral part of employees' wages, it is not paid in cash, and must be deposited in a special account opened by the housing provident fund management center in the entrusted bank, and special account management is implemented. The second is special. The housing provident fund is earmarked for special purposes and can only be used for the purchase, construction, overhaul of self-occupied housing or the payment of rent during storage. Only when the employee retires, dies, completely loses the ability to work, terminates the labor relationship with the unit or moves out of the original city can the housing provident fund in his account be withdrawn.
According to China's regulations, both state-owned enterprises and private enterprises should store housing provident fund for their employees.