State Grid is one of the power companies in China, and its employees enjoy many benefits. Among them, provident fund is a very important benefit. Provident fund refers to a portion of the money that employees deduct from their wages every month so that they can be used for housing, marriage, retirement, etc. in the future. The provident fund of State Grid employees is managed by the Ministry of Natural Resources. At the same time, employees can also check their provident fund balance and payment status online.

State Grid employees can enjoy multiple benefits by participating in the Provident Fund. First of all, provident funds can improve employees’ quality of life and home purchase conditions, and reduce the burden of home purchase. Secondly, the state will pay additional provident fund for employees at a certain percentage, so provident fund is also a considerable welfare income. In addition, provident funds can serve as a safer and more stable way of saving, which has more advantages than ordinary bank savings.

The specific regulations on the provident fund payment by State Grid employees are implemented in accordance with the relevant regulations of the Ministry of Natural Resources. Generally speaking, employees should pay the personal portion of the provident fund themselves, and the company should pay the corporate portion on their behalf. The payment ratio is generally 7% for individuals and 12% for units. At the same time, there are also special regulations for some special groups (such as migrant workers, etc.), which should be implemented in accordance with relevant policies.