What are the main reasons why housing provident fund accounts are blocked (suspended)?

The housing provident fund is a housing fund specially used to solve the housing problem of urban employees.

As an important part of the reform of the urban housing system, the housing provident fund has become a long-term basic system in our country.

The "Housing Provident Fund Management Regulations" stipulate that employees who work in cities and have permanent urban residence in this city will deduct a certain percentage from their salary income on a monthly basis, and the unit where the employee works will also provide a certain percentage of the employee's salary on a monthly basis.

The two parts will be stored uniformly and belong to employees' personal income, which will be used exclusively for employees to purchase and build self-occupied housing.

This kind of compulsory deposit, unified storage, and dedicated payment method is the housing provident fund.

Housing provident fund account storage refers to a state in which employees' housing provident fund deposits are interrupted due to various reasons, and their housing provident fund accounts cannot be transferred and do not meet the conditions for cancellation.

A sealed housing provident fund account is a sealed account.

(1) When the unit changes or terminates (merger, division, cancellation, dissolution, bankruptcy), the employee housing provident fund account transfer procedures cannot be handled.

(2) The employee's contract is not renewed after expiration, or is dismissed during the contract period and is not employed by other units.

(3) The employee resigns, is dismissed or removed from the company, and does not work in other companies.

(4) Employees are sentenced or re-education through labor.

(5) The employee enters the reemployment center and the original unit has closed or stopped production.

(6) The employee is suspended without pay or the employee and the unit agree to retain the social security relationship.

(7) The employee’s salary income is interrupted due to other circumstances and the employee applies in person.

If there is any of the above seven reasons, the unit shall go through the procedures for sealing the housing provident fund account of its employees within the specified time.

The management center entrusts the bank handling bank to review, and after review, the employee's unit will stamp it and manage it.

Related Q&A: What happens when provident fund accounts are sealed?

The sealing of the housing provident fund account refers to the interruption of housing provident fund payment and deposits due to the interruption of the wage relationship between the unit and the employee (but still retaining the labor relationship), and the housing provident fund account cannot be transferred and does not meet the conditions for canceling the account and withdrawing the housing provident fund.

Provident fund accounts should be sealed.

The sealing procedures for employees’ personal housing provident fund accounts should be handled in the following situations: (1) The employee’s salary relationship with the unit is terminated but the labor relationship is still retained; (2) The employee’s contribution needs to be interrupted due to transfer or other reasons, and the employee’s personal account is pending transfer; (

3) Employees need to interrupt their contributions due to retirement (while the procedures are pending), and their personal accounts are waiting to be withdrawn.

Extended information "Beijing Housing Provident Fund Seal Management Measures (Trial)" Article 5 The unit shall, within thirty days from the date of rescission (termination) of the labor relationship with the employee, go to the affiliated branch center and management department with a copy of the employee's ID card to handle the matter for the employee

Procedures for transfer or centralized sealing of housing provident fund accounts.

Article 6 If a unit is on the verge of cancellation, dissolution or bankruptcy, the original unit or liquidation organization shall bring the legal documents of the unit's termination or other relevant termination documents and copies of employee ID cards to the affiliated branch center and management department to handle the matter for employees before the entity is terminated.

Procedures for transfer or centralized sealing of housing provident fund accounts.

The housing provident fund arrears of employees shall be handled in accordance with the provisions of Article 33 of the "Beijing Housing Provident Fund Payment and Deposit Management Measures".