According to the Regulations on the Management of Housing Provident Fund in Yichang City, the contribution ratio of Yichang's provident fund is 12% paid by employees themselves and 12% paid by employers, accounting for 24%. Among them, the contribution ratio of employee provident fund shall not be lower than 8% of the local minimum wage, nor higher than 12% of the local maximum wage. The employer shall take the salary base actually paid to employees as the deposit base of the provident fund, but the deposit base shall not be less than 60% of the local minimum wage and 300% of the local maximum wage. The specific deposit base and deposit ratio need to be implemented in accordance with local regulations. As for the proportion of individual contributions, Yichang Housing Provident Fund Management Center has also stipulated some preferential policies. For example, employees who purchase, rebuild or expand their own houses and pay more than twice the average monthly salary of the current year can appropriately reduce their contribution ratio. In addition, for newly recruited graduates from enterprises and institutions, the employer's contribution ratio can be reduced to 8%.
What can the employer do if the employee fails to pay the provident fund on time? According to the Regulations on the Management of Housing Provident Fund in Yichang City, the employer shall pay the provident fund to the employee's individual provident fund account in accordance with the prescribed payment ratio and time. If the employer fails to pay the provident fund on time, employees can complain and report to the local housing provident fund management center. The housing provident fund management center will further investigate and verify, require the employer to pay back, and may also impose administrative penalties such as fines on the employer. If employees suffer losses, they can bring a lawsuit to the labor dispute arbitration commission or the court to safeguard their legitimate rights and interests.
The contribution ratio of Yichang Provident Fund is 12% for the employee himself and 12% for the employer, accounting for 24%. The specific deposit base and deposit ratio need to be implemented in accordance with local regulations. If the employer fails to pay the provident fund on time, it may complain to the housing provident fund management center to safeguard its legitimate rights and interests.
Legal basis:
Article 14 of the Regulations on the Management of Housing Provident Fund in Yichang City shall be paid by employees themselves at the rate of 12%, and by units at the rate of 12%, accounting for 24%. The deposit ratio of employee provident fund shall not be lower than 8% of the local minimum wage, nor higher than12% of the local maximum wage; The unit shall take the salary base actually paid to employees as the deposit base of the provident fund, but the deposit base shall not be less than 60% of the local minimum wage and 300% of the local maximum wage.