Where should the statutory provident fund of an enterprise be drawn?

Where should the statutory provident fund of an enterprise be drawn? The statutory reserve fund of an enterprise shall be drawn from its net profit. To sum up, the statutory provident fund of an enterprise must be drawn according to law, so as to enhance the solvency of the enterprise and expand its business scale. The specific extraction ratio is 10% of the net profit, and the specific extraction method can be selected according to the actual situation of the enterprise. Legal basis: Article 166 of the Company Law of People's Republic of China (PRC) stipulates that when distributing the after-tax profits of the current year, the company shall withdraw 10% of the profits and include it in the company's statutory reserve fund. If the accumulated amount of the statutory common reserve fund of the company is more than 50% of the registered capital of the company, it may not be withdrawn. If the statutory reserve fund of the company is insufficient to make up for the losses of the previous year, the profits of the current year shall be used to make up for the losses before the statutory reserve fund is withdrawn in accordance with the provisions of the preceding paragraph. After the company withdraws the statutory reserve fund from the after-tax profits, it may also withdraw the reserve fund from the after-tax profits upon the resolution of the shareholders' meeting or general meeting.