If you want to withdraw the provident fund, you must ensure that there are no outstanding provident fund loans in your name. If there are outstanding provident fund loans, they cannot be withdrawn.
There are two ways to repay the mortgage with the money in the provident fund. One way is to repay the loan in one lump sum, that is, to withdraw it once a year and then repay the loan principal in one lump sum. After the loan is paid off, the remaining monthly payment needs your own funds to repay, so you can't use the money in the provident fund account. In the second way, you can take the method of monthly repayment, that is, you withdraw the balance from the provident fund account every month to repay part of the monthly payment. If the balance is not enough, the amount needs to be replenished in time.
In addition, the withdrawal of provident fund must meet the corresponding conditions, including: resignation, retirement, resignation; Buying a house to pay the house price and commercial loan interest; Rent a house at work and pay rent; Self-built or overhauled houses; Settle abroad; Family members need to pay medical expenses for major diseases and major operations; Other conditions that meet the local provident fund withdrawal conditions.
Provident fund withdrawal process is relatively simple. As long as they meet the extraction conditions, they can submit applications through the provident fund management center or online channels. After the provident fund is approved, the withdrawal amount can be transferred to the designated bank card in 3-5 days.
legal ground
Regulations on the administration of housing provident fund
Article 5 The housing accumulation fund shall be used for the purchase, construction, renovation and overhaul of self-occupied housing by employees, and no unit or individual may use it for other purposes.
Article 16 The monthly deposit amount of employee housing provident fund shall be the average monthly salary of the employee in the previous year multiplied by the deposit ratio of employee housing provident fund.
The monthly deposit amount of housing provident fund paid by the unit for employees is the average monthly salary of employees in the previous year multiplied by the proportion of housing provident fund paid by the unit.
Twenty-fourth employees in any of the following circumstances, you can withdraw the balance of storage in the employee housing provident fund account:
(a) the purchase, construction, renovation and overhaul of owner-occupied housing;
(2) retirement;
(three) completely lose the ability to work, and terminate the labor relationship with the unit;
(4) Having left the country to settle down;
(5) Repaying the principal and interest of the house purchase loan;
(six) the rent exceeds the prescribed proportion of family wage income.
In accordance with the provisions of items (2), (3) and (4) of the preceding paragraph, the employee housing provident fund account shall be cancelled at the same time.
If an employee dies or is declared dead, the employee's heirs and legatees may withdraw the storage balance in the employee's housing provident fund account; If there is no heir or legatee, the storage balance in the employee housing provident fund account shall be included in the value-added income of the housing provident fund.