On-the-job employees shall pay the housing provident fund in accordance with the regulations. Housing accumulation fund is a "payable" project, which is legally necessary, and paying it also means an obligation.

Housing accumulation fund refers to the long-term housing savings paid by state organs and institutions, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises and institutions, private non-enterprise units, social organizations and their employees.

The main purposes of the extended information housing provident fund are as follows:

1. When you need to buy a house and need a loan, you can apply for a loan (up to 300,000 or 200,000) according to n times the balance in the provident fund account, as long as you have paid the provident fund normally for more than one year (half a year in some places) and the loan interest rate is about 30% lower than that of the commercial mortgage.

2. When building, renovating or overhauling self-owned housing, you can apply to the provident fund management center for withdrawal of the provident fund with relevant supporting documents and materials.

3 housing loans (including commercial mortgage housing loans), during the repayment period, you can use the relevant information to withdraw the provident fund to repay the loan principal and interest.

4. If your house is leased, when the monthly rent exceeds the family wage income and affects the normal expenditure, you can apply for drawing provident fund to subsidize the rent.

References:

Provident Fund-Baidu Encyclopedia