The housing provident fund is a long-term housing savings deposited by the unit and its employees. It is the main form of monetization, socialization and legalization of housing distribution.

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

Units and individual employees must fulfill their obligations to pay housing provident funds in accordance with the law.

The housing provident fund paid by individual employees and the housing provident fund paid by the unit for them are stored in special accounts and belong to the individual employees.

The units here include state agencies, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units, and social groups. The housing provident fund has the following properties: (1) Security, establishment

The employee housing provident fund system provides a guarantee for employees to solve their housing problems quickly and better; (2) Mutual assistance. The establishment of the housing provident fund system can effectively establish and form a mechanism and channel for employees with housing to help those without housing.

The provident fund provides financial help to workers without housing, which reflects the mutual assistance of the employee housing provident fund; (3) long-term, each urban employee starts from the date of joining the work to the period of retirement or termination of the labor relationship.

All employees must pay individual housing provident funds; the unit where employees work must also pay housing provident funds for employee subsidies in accordance with regulations.

The housing provident fund has the following characteristics: (1) Universality. All urban employees, regardless of the nature of their work unit, the level of their family income, or whether they already have a house, must contribute to the housing provident fund in accordance with the regulations; (2) Mandatory

nature (policy nature), if the unit does not handle the housing provident fund deposit registration or does not handle the establishment of housing provident fund accounts for the employees of the unit, the housing provident fund management center has the right to order it to be done within a time limit. If it is not done within the time limit, it may be handled according to the relevant provisions of the "Regulations"

Penalties may be imposed, and the people's court may be applied for enforcement; (3) Specificity, the "Regulations" clearly stipulate that the employee housing provident fund shall be used for the purchase, construction, renovation, and overhaul of self-occupied housing by employees, and no unit or individual may misappropriate it for other purposes.

; (4) Welfare, in addition to the housing provident fund paid by employees, the unit also has to pay a certain amount for employees, and the interest rate of housing provident fund loans is lower than commercial loans; (5) Repayment, when employees retire, retire, or

If the employee completely loses the ability to work and terminates the labor relationship with the employer, moves out of residence or settles abroad, the housing provident fund paid will be returned to the individual employee.