Provident funds are divided into three types: 1. Municipal provident funds: Municipal provident funds generally refer to provident funds handled by units under municipal management.

For example, local civil servants and ordinary enterprises and institutions are under municipal administration.

2. State-managed provident fund: State-managed provident fund refers to the provident fund managed by units managed by the state.

Such as national civil servants and state-owned enterprises.

3. Central Provident Fund: Central Provident Fund is a provident fund managed by units directly managed by the central government.

Provident fund refers to the long-term housing savings deposited by state agencies, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units, social groups and their employees.

The provident fund is essentially a housing security system provided by the state to the people and a form of monetization of housing distribution.

The provident fund system is an important housing social security system stipulated by national law and is mandatory, mutually supportive, and protective.

All urban employees, regardless of the nature of their work unit, the level of their family income, or whether they already have housing, must pay housing provident funds in accordance with the provisions of the Regulations; units that do not register housing provident fund deposits or do not handle housing for their employees

If a provident fund account is established, the Housing Provident Fund Management Center has the right to order it to be handled within a time limit. If it is not handled within the time limit, it may be punished in accordance with the relevant provisions of the "Regulations" and may apply to the People's Court for enforcement; in addition to the housing provident fund paid by employees, the unit also

A certain amount must be paid for employees, and the interest rate of housing provident fund loans is lower than that of commercial loans; if employees retire, retire, or completely lose their ability to work and terminate the labor relationship with the unit, move their household registration or settle abroad, etc., the housing provident fund paid

will be returned to individual employees.