Risks of replacing provident fund:

1. Withdrawing provident fund on behalf of others is not protected by law. Because it is illegal to withdraw provident fund on behalf of others, such transactions are not protected by law. The property loss of the owner of the provident fund shall be borne by himself.

2. It is fraudulent to withdraw provident fund on behalf of others. Once verified, the relevant units will recover the money. Even if the provident fund has been withdrawn, as long as it is found, the parties should return the amount of the provident fund in full, and at this time, the owner of the provident fund has to pay a large intermediary fee to the intermediary company, which is not worth the candle;

3. Forged materials are needed to collect the provident fund, and the intermediary company will obtain important information of the owner of the provident fund. First of all, withdrawing provident fund on behalf of others is a matter without legal protection. In the process of withdrawing provident fund on behalf of others, intermediary companies will use relevant information to forge materials, such as unemployment certificates, death certificates and retirement certificates. In this way, the important information of the provident fund owner will be leaked, and the property and safety of the provident fund owner will bear great risks.

Legal basis: Article 15 of the Regulations on the Administration of Housing Provident Fund.

Units employing employees shall, within 30 days from the date of employment, go to the housing provident fund management center for deposit registration, and go through the formalities for the establishment or transfer of employee housing provident fund accounts. Where a unit terminates the labor relationship with its employees, it shall, within 30 days from the date of termination of the labor relationship, go to the housing provident fund management center for change registration, and go through the formalities of transferring or sealing the employee housing provident fund account.

Article 16

The monthly deposit amount of employee housing provident fund is the average monthly salary of the employee in the previous year multiplied by the deposit ratio of employee housing provident fund. The monthly deposit amount of housing provident fund paid by the unit for employees is the average monthly salary of employees in the previous year multiplied by the proportion of housing provident fund paid by the unit.