The the State Council Housing System Reform Leading Group of the Ministry of Finance, China People's Bank

Interim Provisions on the Establishment of Housing Provident Fund System

(Cai Zong Zi [1994] No.126)

Chapter I General Provisions

Article 1 is to establish a new urban housing system that meets the requirements of the socialist market economy, form a stable source of housing funds, and promote the accumulation, turnover and policy mortgage of housing funds.

article 2 the housing accumulation fund is a long-term housing savings fund. During the working period of employees, individual employees and their units should pay monthly according to a certain proportion of individual employees' wages and total employees' wages, which will be owned by individual employees and used as individual housing funds for special storage, unified management and special use.

article 3 all the regular staff and workers of party and government organs, mass organizations, institutions and enterprises, employees under labor contract system and Chinese employees of foreign-funded enterprises shall pay the housing accumulation fund. Retired employees, temporary workers and foreign employees of foreign-funded enterprises do not pay housing provident fund.

article 4 the housing accumulation fund system is generally implemented according to the principle of territoriality.

chapter ii deposit of housing provident fund

article 5 in the initial stage, individual employees and their units shall each pay housing provident fund at 5% of their individual wages and total wages. In the future, with the development of economy and the increase of employees' wage income, the payment rate can be adjusted appropriately. The contribution rate of housing provident fund for foreign-funded enterprises and their Chinese employees shall be determined by the people's governments of all provinces, autonomous regions and municipalities directly under the Central Government.

Article 6 The payment base of housing provident fund shall be calculated according to the average monthly salary of employees in the previous year, and the salary shall be calculated according to the provisions of the National Bureau of Statistics.

article 7 the housing accumulation fund paid by individual employees shall be paid by individual employees.

Article 8 The sources of funds for housing accumulation fund paid by units for employees:

(1) The enterprise shall solve the problem from the housing depreciation and other transfer funds drawn by the enterprise, and the insufficient part shall be charged to the costs and expenses upon the approval of the financial department;

central enterprises shall be audited by the offices (groups) of the financial Ombudsman stationed by the Ministry of Finance in all provinces, autonomous regions, municipalities directly under the Central Government and cities under separate state planning.

(2) The administrative and public institutions shall first base themselves on the transfer of the original housing funds, and the administrative and public institutions with full budgets shall be allocated by the financial budget; Institutions with differential budgets are solved in the financial budget and the unit's own funds according to the differential ratio. The financial burden of funds, according to the unit affiliation and financial system, by the central finance and local finance at all levels respectively.

(3) self-supporting institutions shall be charged according to the expenditure channels of enterprises.

article 9 the housing provident fund paid by individual employees shall be deducted by the employee's unit when he is paid, and together with the part paid by the unit for employees, it shall be paid to the housing provident fund management institution within the specified time and deposited in the "housing provident fund special account" opened by the housing provident fund management institution in the entrusted bank.

Article 1 The deposit interest rate of housing provident fund shall be subject to the relevant regulations of the People's Bank of China.

article 11 the principal and interest of housing provident fund shall be exempted from individual income tax.

chapter iii payment of housing provident fund

article 12 the individual housing provident fund of employees can only be used for family purchase, construction of self-occupied housing and major repair expenses of family self-occupied housing.

Article 13 Repayment and transfer of individual housing provident fund for employees:

(1) When employees retire, leave their jobs or settle abroad, they can withdraw the balance of principal and interest of housing provident fund by themselves;

(2) When an employee is transferred to work, the balance of principal and interest of the housing provident fund will be transferred to the housing provident fund account under the employee's name in the new unit;

(3) The balance of principal and interest of the housing provident fund shall be withdrawn by the legal heirs or legatees of the employees who died during their service.

Chapter IV Use of Housing Provident Fund

Article 14 Scope and sequence of use of housing provident fund:

(1) Mortgage loans for employees to purchase and build self-occupied housing;

(2) loans for major repairs of employees' self-occupied housing;

(3) urban affordable housing construction loans;

(4) units purchase and build housing mortgage loans;

(5) after meeting the payment needs and arranging the above loans, the balance can be used to purchase government bonds.

article 15 the housing provident fund management institution shall, jointly with the relevant departments, prepare the housing provident fund use plan according to the above scope and order, and submit it to the local people's government for examination and approval before issuing it to the entrusted bank.

Article 16 Procedures for using the housing provident fund:

(1) The user (or unit) of the housing provident fund applies to the housing provident fund management institution;

(2) The housing provident fund management institution shall review the loan application according to the provisions on the use of housing provident fund, the annual use plan and the applicant's housing provident fund payment;

(3) The entrusted bank shall, in accordance with relevant regulations, conduct credit review on the users (or units) proposed by the housing provident fund management institution, determine whether to grant loans, go through loan procedures and recover loans on schedule. However, loans cannot be granted for the use other than the user (or unit) proposed by the provident fund management institution.

Chapter V Management of Housing Provident Fund

Article 17 The people's governments of cities (counties) shall be responsible for formulating relevant specific provisions on the collection, use and management of housing provident fund, and examining and approving the use plan of housing provident fund and financial revenue and expenditure budget and final accounts. The implementation of the leadership and supervision of the housing provident fund management institutions.

article 18 the housing provident fund management institution is specifically responsible for the management of housing provident fund collection, payment, accounting and preparation of use plans.

the specific establishment of housing provident fund institutions shall be determined by the local people's government.

Article 19 Responsibilities of the housing provident fund management institution:

(1) Checking the payment base of housing provident fund;

(2) urge all units to remit and pay the housing provident fund on a monthly basis;

(3) to work out the annual use plan of housing provident fund jointly with relevant departments;

(4) to examine the application for the use of housing provident fund users (or units);

(5) Supervise the entrusted banks to handle the housing provident fund deposit and loan business according to the agreement;

(6) accounting for housing provident fund;

(7) Repaying the principal and interest of employee housing provident fund.

Article 2 The management expenses of the housing provident fund management institution shall be charged in the value-added income of the housing provident fund after being approved by the finance at the same level.

Article 21 Financial services such as deposits and loans of housing provident fund shall be handled by the local people's government in accordance with the provisions of the People's Bank of China.

article 22 the entrusted bank shall submit statements and delivery vouchers to the housing provident fund management institution in accordance with the provisions of the entrustment agreement, and accept the supervision of the housing provident fund management institution.

article 23 the financial accounting system of the housing provident fund and its management institutions shall be implemented in accordance with the unified provisions of the Ministry of finance, and the auditing and supervision departments shall strengthen auditing and supervision.

Chapter VI Supplementary Provisions

Article 24 Units that fail to pay the housing provident fund in accordance with the regulations without approval shall pay the full amount and pay a late fee.

Article 25 No unit or individual may misappropriate the housing accumulation fund. Anyone who violates the provisions of Articles 14, 15 and 16 shall be returned within a time limit, and economic penalties shall be imposed on the misappropriated units and individuals. If a crime is constituted, criminal responsibility shall be investigated according to law.

article 26 the leading groups of housing system reform in all provinces, autonomous regions and municipalities directly under the central government shall, jointly with the financial departments, formulate detailed rules for implementation in accordance with these provisions and in light of the actual situation in their respective regions, and shall be promulgated and implemented after being approved by the people's government at the same level.

Article 27 The Ministry of Finance shall be responsible for the interpretation of these Provisions.

Article 28 These Provisions shall come into force as of the date of promulgation.

Part of the company's rental provident fund shall be deducted from the account, and part of the individual shall be deducted from my salary.

It is calculated as a percentage of the paid salary, part of the company and part of the individual shall be deducted from the account by the housing provident fund office, and part of the individual shall be deducted from my salary.

You bought a house, You can continue to purchase.

according to article 36 of the State Council's regulations on the management of housing provident fund (the State Council order No.262), the center provides the employees and units who have paid the housing provident fund with the inquiry service on the deposit and withdrawal. Employees can only apply for inquiring about their own housing provident fund, but not others' housing provident fund. The application for inquiring about the housing accumulation fund shall be handled according to the following provisions:

1. Employees must show their ID cards when applying for inquiring about their housing accumulation fund. If you do not show your ID card or have no ID card, you will not be inquired.

2. If the unit needs to inquire about the employee's housing provident fund for official business or work, it must submit the following supporting materials:

1. If the unit needs to inquire about the employee's housing provident fund for housing provident fund business, it shall submit a letter of introduction issued by the unit and show the identity card of the inquirer.

employees who are not employees of this unit or who are not engaged in housing provident fund business will not be inquired.

2. If a lawyer needs to inquire about the housing accumulation fund of the employees involved in the case, he shall submit the letter of introduction and the Notice of Accepting the Case issued by the law firm (submit a copy and submit the original), and show his lawyer's practice license and ID card.

3. If the public security and judicial organs need to inquire about the employee's housing provident fund when performing official duties according to law, they shall submit the letter of introduction or the Notice of Assistance in Inquiry issued by the unit, and show the work permit and official certificate of the inquirer.

3. When the unit applies for inquiring about its housing accumulation fund, it shall submit a letter of introduction issued by the unit and show the ID card of the inquirer.

Bring you housing wages

The housing accumulation fund is paid by the unit and the individual in the same proportion. The so-called "individual pays one piece, and the unit sticks one piece". Why should the unit put up a piece? Some people say it's unit welfare, others say it's unit subsidy, and there is no agreement. We might as well combine the background of housing system reform to make an analysis. During the planned economy period, housing was distributed in kind. Whether or not the house can be allocated and how big the house can be allocated mainly depends on the unit benefit. At that time, people's wages were not specifically used for the composition of housing consumption, and people did not have the consumption habit of buying houses by accumulating wages. In the reform of housing system, the distribution of housing in kind has been abolished, and the unit no longer distributes housing to employees, but instead implements monetization distribution, that is, it reflects the unit's support for employees to buy housing in wages. Since then, employees have changed from relying on units to living on their own, and units have changed from all-inclusive to paying housing wages. Therefore, it is more appropriate to define housing provident fund as housing wages, and this housing wage has the characteristics of legality and compulsion, so as to distinguish it from housing welfare and housing subsidies, which can be determined by units according to benefits.

Bring you savings and wealth

The housing accumulation fund system adopts the "individual accumulation system" mode, that is, the funds accumulated in individual accounts are completely owned by individuals, emphasizing "solving their own housing needs with their own accumulation", which is in sharp contrast to the social security funds such as pension and unemployment, which are mainly based on social pooling and supplemented by individual accounts.

If you are a depositor of housing provident fund, you have a housing provident fund account, which is equivalent to opening a passbook account in the bank. No matter what you pay personally or what the company pays for you, it belongs to you. Over time, you can form a considerable "savings". According to the relevant regulations of the state, this "savings" can earn interest from the date it is deposited in your account, and it will be calculated with compound interest every year without paying interest income tax. That is to say, even if you don't use the housing provident fund, this "savings" in your housing provident fund account will also have income, and the income level is not low. According to the current deposit interest rate, it is close to the one-year lump-sum deposit and withdrawal interest rate.

Therefore, the compulsory payment of housing provident fund by the state actually creates a personal wealth for you in the form of statutory compulsory savings, which may be transformed into physical form-that is, you can use the housing provident fund to buy a house; It may also be expressed in the form of money-that is, savings deposits that are owned by you and can generate good returns; It can also be your retirement income-if you have never used the provident fund, or if you have used it before but later accumulated it, when you retire, you can extract all the principal and interest of your housing provident fund as your retirement income, which will be used as a source of income for you to describe a stable and beautiful retirement life.

Bring you low-cost loans

As a payer, as long as you pay the housing provident fund in accordance with the regulations, you have fulfilled your obligations. According to the law of "rights and obligations are relative", you have the right to use the housing provident fund, including applying for housing provident fund loans. Therefore, when you need to buy a house, you may wish to be kind to the right to apply for housing provident fund loans.

The advantages of housing provident fund loans are mainly reflected in providing you with low-cost financing. Compared with commercial housing loans from banks, the interest rate of housing provident fund loans is relatively low. The same is the housing provident fund loan of 1, yuan in 1 years and the commercial housing loan. The former has an annual interest rate of 4.41% and the latter is 6.12%. The former pays less interest than the latter by 1,12.74 yuan. Which is higher or lower is obvious at a glance. The interest difference between housing provident fund loans and commercial housing loans was ignored by many borrowers when the mortgage interest rate was low and declining in previous years. However, on March 17th, 25, the central bank adjusted the housing loan interest rate policy, and the increase rate of housing provident fund loan interest rate was less than that of commercial housing loan, which further widened the interest difference between the two, and the low interest rate advantage of housing provident fund loan was more obvious. Many borrowers even put forward a motion to allow commercial housing loans to be converted into housing provident fund loans.

Of course, to obtain housing provident fund loans, you must also meet the prescribed conditions. In Shanghai, the loan amount of housing provident fund is linked to the account balance. At present, the maximum multiple has been relaxed from 15 times to 4 times. If the loan amount is 2, yuan (the maximum loan amount of basic provident fund does not include the loan amount of supplementary provident fund), there must be at least 5, yuan in the housing provident fund account. In addition, the borrower must deposit the housing provident fund for six consecutive months before applying for a loan.

Repayment that gives you peace of mind

The borrower usually repays in cash, or authorizes the bank to deduct money from the designated repayment card. But do you know that housing provident fund can bring you convenient and safe repayment methods?

The procedures for using the housing provident fund to repay the housing loan are very simple. As long as you bring the materials to the loan bank and sign the Power of Attorney for Using the Housing Provident Fund to Repay the Housing Loan, the bank will automatically deduct money from your housing provident fund account on a regular basis according to your entrustment requirements to repay your housing provident fund loan or commercial housing loan. Because this repayment method only needs one entrustment, it is long-term, and it is convenient, safe and direct to deduct money from the housing provident fund account.

there are two main ways to use the housing provident fund to repay the housing loan. one is the one-time repayment method, that is, the housing provident fund is withdrawn once a year to repay the loan principal, and the other is the monthly repayment method, that is, the housing provident fund is withdrawn every month to repay the loan principal and interest of the current month. The former is equivalent to repaying the loan in advance once a year, saving interest expenses and reducing the monthly repayment amount in the future, while the latter reduces the borrower's monthly cash expenditure and reduces the financial pressure of cash flow. Two ways