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Installation of Elevator Provident Fund Extraction Process
The extraction process of installation elevator provident fund is as follows:

1. Go to the local provident fund management center with my valid ID card and relevant information required for provident fund withdrawal, fill out the application form for provident fund withdrawal as required, and submit the information required by the provident fund management center;

2. After receiving the extracted information, the housing provident fund management center will review the information provided by users;

3. After the approval, the housing provident fund management center informs the extractor to sign the provident fund withdrawal agreement and go through the withdrawal procedures. After that, the public housing provident fund management center will transfer the extracted funds to the bank card account designated by the drawer.

The objects and conditions for withdrawing provident fund and installing elevators are as follows:

1. If the elevator is installed in accordance with the relevant regulations on elevator installation in existing multi-storey houses in this Municipality, after the elevator installation project is officially started, the property owner or public housing tenant who has paid the construction funds in advance (hereinafter referred to as the "property owner") can apply for withdrawing the storage balance in the housing provident fund account of the property owner himself, his spouse and immediate family members, and use it for the construction funds paid by individuals for elevator installation.

2. If an applicant (the owner or spouse who applies for housing provident fund or his immediate family members, hereinafter referred to as "the applicant") applies for housing provident fund to pay the construction funds paid by individuals for installing elevators in existing multi-storey houses, it shall also meet the following extraction conditions: the elevator installation project in existing multi-storey houses has been formally constructed and the owner has paid the construction funds for installing elevators, the applicant and his spouse have no housing provident fund loans in this city, and the applicant has no entrustment to withdraw the housing provident fund to repay the housing loans; (4) The applicant has no other valid loans.

To sum up, only those who meet the requirements and have complete materials will go through the withdrawal procedures on the spot, and the withdrawal funds will be transferred to the bank account of the drawee in real time.

Legal basis:

Article 5 of the Regulations on the Management of Housing Provident Fund

The housing accumulation fund shall be used for the purchase, construction, renovation and overhaul of owner-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 is the average monthly salary of employees 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.