1. After personal deposit, the funds will be doubled. 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 bears interest at the current interest rate, and if it is carried forward from the previous year, it bears interest 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 provident 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 the 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.
What is housing accumulation fund?
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.
In summary, the housing provident fund paid by individuals and units belongs to individuals and is exempt from personal income tax.
Legal basis:
Article 3 of the Regulations on the Management of Housing Provident Fund
The housing accumulation fund paid by individual employees and the housing accumulation fund paid by the unit where employees work for employees belong to individual employees.