Problem description:
I am an ordinary enterprise employee and want to buy a house. I've heard of this provident fund, but I don't know what it means. In addition, do ordinary enterprises like us also need to pay the provident fund?
Analysis:
What is provident fund?
Employee housing provident fund is a mandatory 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 establishment of employee housing provident fund is to solve the problems of employee housing construction investment fund and individual employees buying houses, building houses and paying new rents. However, this part of the housing provident fund cannot cover the housing rent and may not be listed and circulated. If there is a balance, it can be deposited in the housing reform financial institutions, and it can be used as the employee's individual housing provident fund, and the unit may not use it for other purposes.
If the employee's housing has been solved, when he retires, he can take out the principal and interest together and return it to the retired employee.