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What does it mean to seal provident fund account?

The provident fund account showing sealing means that after the employer and the employee terminate the labor relationship, the housing provident fund is in a state of suspension. At the same time, the provident fund account cannot be transferred and does not meet the conditions for withdrawal, so the account due to the interruption of payment will be displayed as sealed.

At the same time, in addition to this reason, the following reasons will also cause the provident fund account to be sealed: 1. Employees whose companies have been merged or bankrupted, and the employees have not signed a new labor contract; 2. The employee's unit has been cancelled; 3. Employees and the unit

No work after the labor contract is terminated; 4. The employee resigned or was dismissed or fired and did not work after being fired; 5. The employee is serving a sentence or reeducation through labor; 6. The housing provident fund has been approved to be deferred; 7. The employee needs to be sealed for other reasons.

After the provident fund is sealed, it can be reactivated as long as the following steps are followed: 1. If the salary relationship between the employee and the unit is restored, the unit shall, within 30 days from the date of restoration of the wage relationship, bring the housing provident fund remittance change list to the handling bank for employee personal processing

Procedures for opening the housing provident fund account. After opening, the unit should continue to pay and deposit the housing provident fund for the employee.

2. Employees who are re-employed and have established a labor relationship with a new unit should go to the handling bank where the centralized sealing is held to handle the unsealing procedures and transfer the housing provident fund to the new unit.