what is provident fund

The employee housing provident fund is a compulsory and compulsory personal long-term housing savings fund. Individual employees withhold wages according to a certain proportion every month, and the unit takes out the same amount every month, and the two figures are added and deposited in the employee's personal account. This savings fund belongs to individual employees.

The purpose of establishing employee housing accumulation fund is to solve the problem of employee housing construction investment fund and individual employees buying houses, building houses and paying newly increased rents. However, this housing accumulation fund cannot cover the housing rent and may not be listed for circulation. If there is any balance, it can be deposited in the housing reform financial institution, which can be used as the employee's individual housing fund, and the unit cannot be used for other purposes.

if the employee's housing has been settled, when he retires, he can withdraw the principal and interest together to be owned by the retired employee.

the housing accumulation fund refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, privately-run enterprises in cities and other urban enterprises, institutions and their employees.

This definition of housing provident fund contains the following five meanings:

(1) Housing provident fund is only established in cities and towns, and the housing provident fund system is not established in rural areas.

(2) Only on-the-job employees can establish the housing provident fund system. Unemployed urban residents do not implement the housing accumulation fund system, and retired workers do not implement the housing accumulation fund system.

(3) The housing accumulation fund consists of two parts, one part is paid by the employee's unit, and the other part is paid by the employee

personally. After the employee's individual contribution is withheld by the unit, it will be paid into the personal account of the housing provident fund together with the unit contribution.

(4) the long-term nature of housing provident fund deposit. Once the housing provident fund system is established, employees must

continuously pay in accordance with the regulations during their working period, and shall not be suspended or interrupted except for employees' retirement or other circumstances stipulated in the Regulations on the Administration of Housing Provident Fund. It embodies the stability, unity, standardization and compulsion of housing provident fund.

(5) The housing accumulation fund is a personal housing deposit specially used by employees for housing consumption expenditure, which has two characteristics: first, it is cumulative, that is, although the housing accumulation fund is an integral part of employees' wages, it is not paid in cash, and it must be deposited in the special account opened by the housing accumulation fund management center in the entrusted bank, and

special account management is implemented. The second is specificity. The housing provident fund shall be earmarked for special purposes, and can only be used for purchasing, building, overhauling self-occupied housing or paying rent during storage. Only when employees retire, die, completely lose their ability to work and terminate their labor relations with the unit or move out of their original city of residence can they withdraw their housing provident fund from their accounts.

according to the current regulations in my area, all enterprises should deposit this for their employees, regardless of state-owned or private.

Year

Second, annual leave is a reward for your service to the company. For every year of service, you will be rewarded with 7 days of annual leave. However, some companies are required to work for several years before they can have annual leave

Reference:/wsgjj/M1-16/11-1-11/11-3.htm.