Provident fund is the amount of funds reserved by the company outside the capital, also known as additional capital or reserve. Accumulation fund can be divided into surplus accumulation fund and capital accumulation fund. Housing accumulation fund refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions and their employees.

(1) The housing accumulation fund is only established in cities and towns, and the housing accumulation fund system is not established in rural areas.

(2) Only on-the-job employees can establish the housing accumulation fund system. Unemployed urban residents do not implement the housing provident fund system, and retired workers do not implement the housing provident fund system.

(3) The housing accumulation fund consists of two parts, one part is paid by the employee's unit, and the other part is paid by the employee. After the individual contributions of employees are withheld by the unit, they will be paid into the individual account of housing provident fund together with the unit contributions.

(4) The long-term nature of housing provident fund deposit. Once the housing provident fund system is established, employees must be paid continuously in accordance with the regulations during their employment, and shall not be suspended or interrupted except for employees' retirement or other circumstances stipulated in the Regulations on the Administration of Housing Provident Fund. It embodies the stability, unity, standardization and compulsion of housing provident fund.

(5) Housing provident fund is a personal housing savings fund for employees' housing consumption expenditure, which has two characteristics: first, it is cumulative, that is, although housing provident fund is an integral part of employees' wages, it is not paid in cash, and must be deposited in a special account opened by the housing provident fund management center in the entrusted bank, and special account management is implemented. The second is specificity. The housing accumulation fund shall be earmarked for special purposes and can only be used for the purchase, construction, overhaul of self-occupied housing or the payment of rent during storage. Only when the employee retires, dies, completely loses the ability to work and terminates the labor relationship with the unit or moves out of the original city can the housing provident fund be withdrawn from the account. According to the current regulations in our district, all enterprises should save this for their employees, whether state-owned or private.