After buying a house with a loan, you usually pay the provident fund, but there is no mandatory requirement. If the borrower is on the job, it is recommended to continue to pay, so as to continue the repayment of the provident fund and reduce the repayment pressure. In addition, if you want to borrow provident fund in the future, you can also apply. However, if you leave your job after handling the provident fund loan, you can temporarily not pay it.
Benefits of provident fund contribution 1. Paying provident fund can increase personal income. Because the provident fund is the part paid by the individual, all the part paid by the unit is credited to the personal account and belongs to the personal property. Individuals pay 5%- 12%, and the unit subsidizes in the same proportion. Therefore, after individual employees pay the housing provident fund according to regulations, the funds will double.
2. Calculate and pay interest. The housing provident fund paid in the current year shall be paid at the current interest rate, and if it is carried forward from the previous year, it shall be paid at the three-month lump-sum interest rate.
3. tax exemption. According to the relevant provisions of the state, the housing provident fund is exempt from personal income tax; Housing provident fund paid by enterprises for employees can be deducted before tax.
4, owned by the individual workers. Housing accumulation fund is a policy fund paid by the unit and its employees according to law, which belongs to the individual employees and is stored in the special account of the center for unified management and operation.
5. It can be used to buy and build self-occupied houses. Workers who have paid housing provident fund can withdraw housing provident fund with relevant legal and valid documents when purchasing or building self-occupied housing.
6. You can be a pension. After retirement, employees can withdraw all the principal and interest balance of housing provident fund at one time with retirement certificates, ID cards and other documents.
7. You can apply for a loan. Cadres and workers who have paid the housing provident fund 1 year or more can apply for personal housing provident fund loans when buying or building self-occupied housing.