What does the state-managed provident fund mean?
The Central State Agencies Housing Fund Management Center is an institution directly under the State Administration of Administration. It is a department of the central state agencies and the Beijing Housing Provident Fund Management Center. . The housing fund management center of the central state agency (agency directly under the central government) is the provident fund of the country. The personal long-term housing provident funds of employees of central government agencies and state-owned enterprises, units in Beijing and other state-owned enterprises are classified as state-managed provident funds. Different from municipal provident funds, state-managed provident funds are managed by the Central State Organs Housing Fund Management Center. It also includes the Central Provident Fund (housing provident fund paid and deposited by sub-centres of the core agencies directly under the Central Government).
State-owned units, that is, state-owned units and state-owned enterprises, are internationally only enterprises funded or participated by the government of a country or the federal government. Our government regulations. State-owned enterprises must also pay employees' housing provident funds, that is, state-managed funds, in accordance with relevant regulations.
State-managed Provident Fund Withdrawal Process
In accordance with the relevant provisions of the "Operational Regulations on the Management of Housing Provident Fund Withdrawal by Central State Agencies", the specific procedure for withdrawing state funds is: employees submit relevant certification documents. The collection procedure can be done by the employee himself or by an employee of the unit. Employees of the unit can handle withdrawal procedures for multiple employees. Verify the initial review of the unit. For employees who pass the preliminary review, unless they provide incomplete information or do not meet the specified conditions, they will be required to issue a "Housing Provident Fund Withdrawal Application Form" (Attachment 3) and fill in the "Withdrawal Record Form" by themselves.
Withdrawals in the following situations must be approved by the bank agency before they can be processed: 1. Those who have not completed the house purchase procedures; 2. Those who purchase housing loans; 3. Those who apply for urban subsistence allowance due to difficulty in living. ; 4. Retired or retirees; 5. Completely lost the ability to work and terminated the labor relationship with the employer; 6. Leaving the country to live; 7. Migrant workers, terminated the labor contract with the employer; 8. Sentenced to death or life imprisonment while in office , upon expiration of the sentence, the statutory retirement age has been reached.