First, the basic purpose of the provident fund

As a kind of housing savings, provident fund is mainly used to help employees solve housing problems. According to relevant regulations, employees can apply for withdrawal of provident fund when purchasing, constructing, renovating or overhauling their own houses. In addition, the provident fund can also be used to repay my housing loan and reduce the economic pressure of employees.

Second, the extraction conditions of provident fund

To withdraw the provident fund, certain conditions must be met. These conditions usually include: legal documents for purchase, construction, renovation and overhaul of self-occupied housing; Proof of repayment of housing loan; And other extraction conditions that meet the requirements. Only when these conditions are met can employees apply for withdrawal of provident fund.

Third, the reason why the provident fund cannot be used to repay the mortgage for parents.

Although provident fund is a kind of housing savings, its scope of use is clearly defined. The provident fund cannot be directly used to repay the mortgage to parents, mainly because the payment and use of the provident fund are mainly based on individual employees. Parents' mortgage is their personal debt and has no direct relationship with the employee provident fund account. Therefore, employees cannot use their own provident fund to repay their parents' mortgage.

To sum up:

Your own provident fund cannot be directly used to repay your parents' mortgage. The payment and use of provident fund is mainly based on individual employees, mainly used to solve their own housing problems. Although parents' mortgage is an important family expense, employees need to solve this problem in other ways, such as arranging family finances reasonably and finding other loan channels.

Legal basis:

Regulations on the administration of housing provident fund

Article 24 provides that:

In any of the following circumstances, employees may withdraw the storage balance 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.