There are no major updates to the nationwide provident fund policy in 2021. It is mainly a continuation of the regulations on the amendment of provident fund management methods issued on March 24, 2020. The biggest change in the regulations is that the provident fund is included in the scope of compulsory purchase of social insurance, and together with social security, it is

The company withholds the payment.

The local provident fund management center promulgated policies in 2021 to increase the upper limit of deposits and expand the scope of use.

First, since the provident fund policy was implemented, it has not been mandatory for all companies to purchase housing provident funds for their employees. In the past, basically only state-owned enterprises, foreign companies and administrative institutions would purchase housing provident funds for their employees.

In 2020, the "Decision of the State Council on Amending the Regulations on the Administration of Housing Provident Funds" was promulgated, stating that units should purchase provident funds for employees in full and on time. Since then, provident funds have become the same mandatory regulations as social security, and companies have also begun to implement new regulations.

policy.

Second, many local governments have also revised their provident fund management methods. The general trend is to expand the scope of use of provident funds. It was originally limited to the purchase of houses locally, but now more and more regions allow the withdrawal of provident funds for cross-regional buying, renting, and house repairs.

, some areas stipulate that you can also withdraw your provident fund due to living difficulties caused by illness or natural disasters, or if you cancel your provident fund account.

The new policies this year have become more flexible and relaxed, taking into account the actual needs of the people. Ten years ago, the provident funds of ordinary employees could be paid as taxes by default, because it was not certain that they could stay in one place for a lifetime and then buy a house.

How to get provident fund.

The provident fund policy reforms in recent years have been very popular.

According to the "Decision of the State Council on Amending the Regulations on the Administration of Housing Provident Funds" promulgated by the State Council on March 24, 2020: 1. For new employees who start to work, they shall start paying housing provident funds on time from the second month of joining the work.

. Pay the housing provident fund in full, and no late payment or underpayment is allowed ("should" in the law means "must, compulsory"); 2. Newly transferred employees from the unit shall pay the housing provident fund from the date the unit pays wages.

To deposit housing provident fund, the monthly deposit amount is the employee's monthly salary multiplied by the employee's housing provident fund contribution ratio.