In the initial stage, individual employees and their units pay housing provident fund at 5% of their personal wages and total wages. In the future, with the development of economy and the increase of employees' wage income, the payment rate can be adjusted appropriately. The proportion of housing accumulation fund paid by foreign-invested enterprises and their Chinese employees shall be determined by the people's governments of all provinces, autonomous regions and municipalities directly under the Central Government.
The payment base of housing provident fund is calculated according to the average monthly salary of employees in the previous year, and the salary amount is calculated according to the provisions of the National Bureau of Statistics.
The housing accumulation fund paid by individual employees shall be paid by individual employees.
The deposit interest rate of housing provident fund shall be implemented in accordance with the relevant provisions of the People's Bank of China.
The principal and interest of housing provident fund are exempt from personal income tax.
The use of housing provident fund:
Scope and sequence of use of housing provident fund:
(a) the purchase and construction of self-occupied housing mortgage loans;
(2) Loans for renovation of workers' self-occupied housing;
(three) urban affordable housing construction loans;
(four) units to buy and build housing mortgage loans;
(five) after meeting the payment needs and arranging the above loans, the balance can be used to buy government bonds.
Housing provident fund shall be paid by units and individuals in the same proportion. The so-called "individuals pay a piece, the unit sticks a piece." Why should the unit put up a piece? Some people say it is a unit welfare, others say it is a unit subsidy, and there is no agreement. We might as well combine the background of housing system reform to make an analysis. In the planned economy period, housing was distributed in kind. Whether the house can be allocated or not depends mainly on the unit benefit. At that time, people's wages were not specifically used for the composition of housing consumption, and people did not have the consumption habit of buying a house by accumulating wages. In the reform of the housing system, the physical distribution of housing was cancelled, and the unit no longer distributed housing to employees, but implemented monetization distribution, that is, the unit's support for employees to buy houses was reflected in wages. Since then, employees have changed from relying on the unit to their own lives, and the unit has changed from all-inclusive to paying housing wages. Therefore, it is more appropriate to define housing accumulation fund as housing wage, and this kind of housing wage has the characteristics of legality and compulsion, which is different from housing welfare and housing subsidy and can be determined by the unit according to the benefit.
Bring you savings and wealth.
The housing accumulation fund system adopts the "individual accumulation system" mode, that is, the funds accumulated in individual accounts are completely owned by individuals, emphasizing "solving their own housing needs with their own accumulation", which is in sharp contrast with social security funds such as pension and unemployment, which are mainly based on social pooling and supplemented by individual accounts.
If you are a depositor of housing provident fund, you have a housing provident fund account, which is equivalent to opening a "passbook account" in the bank. No matter what you personally pay, what the unit pays for you belongs to you. Over time, you can form a considerable "savings". According to the relevant regulations of the state, this "savings" can earn interest from the date it is deposited in your account, and it is calculated with compound interest every year, without paying interest income tax. In other words, even if you don't use the housing provident fund, this "savings" in your housing provident fund account will also have income, and the income level is not low. According to the current deposit rate, it is close to the one-year lump-sum deposit and withdrawal rate.
Therefore, the compulsory payment of housing provident fund by the state actually creates a personal wealth for you in the form of statutory compulsory savings, which may be transformed into physical form-that is, you can buy a house with housing provident fund; It may also be expressed in the form of money-that is, savings deposits that you have and can produce good returns; It can also be your retirement income-if you have never used the provident fund, or have used it before but accumulated it later, then when you retire, you can withdraw all the principal and interest of your housing provident fund as your retirement income as a source of income for you to describe a stable and beautiful retirement life.
Bring you low-cost loans
As a payer, as long as you pay the housing provident fund in accordance with the regulations, you have fulfilled your obligation to pay. According to the law of relative rights and obligations, you have the right to use the housing provident fund, including applying for housing provident fund loans. Therefore, when you need to buy a house, you may wish to be kind to the right to apply for housing provident fund loans.
The advantages of housing provident fund loans are mainly reflected in providing you with low-cost financing. Compared with commercial housing loans of banks, the interest rate of housing provident fund loans is relatively low. Similarly, housing provident fund loans and commercial housing loans, the annual interest rate of 10 is 4.4 1% and 6. 12% respectively, and the former pays less interest10/02.74 yuan than the latter. Which is higher or lower is clear at a glance. The interest difference between housing provident fund loans and commercial housing loans was ignored by many borrowers when the mortgage interest rate was low and showed a downward trend in previous years. However, on March 17, 2005, the central bank adjusted the housing loan interest rate policy, and the increase rate of housing provident fund loan interest rate was smaller than that of commercial housing loans, further widening the spread between the two, and the low interest rate advantage of housing provident fund loans was more obvious. Many borrowers even proposed a motion to allow commercial housing loans to be converted into housing provident fund loans.
Of course, obtaining housing provident fund loans must also meet the prescribed conditions. In Shanghai, the loan amount of housing provident fund is linked to the account balance. At present, the maximum multiple has been relaxed from 15 to 40. If the loan amount is 200,000 yuan (the maximum loan amount of the basic provident fund, excluding the supplementary provident fund loan amount), there must be at least 5,000 yuan in the housing provident fund account. In addition, the borrower must continuously deposit the housing provident fund for 6 months before applying for a loan.
Give you peace of mind to repay.
Borrowers generally repay in cash, or authorize banks to deduct money from designated repayment cards. But do you know that housing provident fund can bring you convenient and safe repayment methods?
The procedure of using the housing provident fund to repay the housing loan is very simple. As long as you bring the materials to the loan bank and sign the Power of Attorney for Repaying Housing Loan with Housing Provident Fund, the bank will automatically deduct the money from your housing provident fund account on a regular basis according to your entrustment requirements to repay your housing provident fund loan or commercial housing loan. Because this repayment method only needs one entrustment, it is long-term, effective, convenient, safe and assured.
There are two main ways to use housing provident fund to repay housing loans. One is a one-time repayment method, that is, the housing provident fund is withdrawn once a year to repay the loan principal, and the other is a monthly repayment method, that is, the housing provident fund is withdrawn every month to repay the loan principal and interest of the current month. The former is equivalent to repaying the loan once a year in advance, which saves interest expenses and reduces the monthly repayment amount in the future, while the latter reduces the borrower's monthly cash expenditure and reduces the financial pressure of cash flow. There is no difference between the two methods, and the borrower needs to choose according to his own situation. But no matter which way, use your housing provident fund as much as possible, so that it can continuously improve your repayment ability and facilitate your financial arrangement and repayment plan. This is actually a manifestation of improving your self-occupation ability and housing consumption level.
Take care of your special needs
Housing accumulation fund is a special housing savings fund, whose use is strictly restricted, and it is mainly used for housing consumption. But in reality, some employees are unemployed or their families have changed, which leads to difficulties in life. Perhaps the first problem they face is not to improve housing, but to solve the urgent problem of life difficulties. However, according to the current Regulations on the Management of Housing Provident Fund, the housing provident fund they paid before cannot be withdrawn to solve their living difficulties, and can only be used if they meet the conditions for buying a house or reach retirement age.