Housing accumulation fund refers to the long-term housing savings paid by state organs and institutions, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises and institutions, private non-enterprise units, social organizations and their employees.
The definition of housing provident fund includes the following aspects:
1. Only on-the-job employees can establish the housing provident fund system. Unemployed urban residents and retired workers do not implement the housing provident fund system.
2. The long-term nature of housing provident fund deposit. Once the housing provident fund system is established, employees must be paid continuously in accordance with the regulations during their employment, and shall not be suspended or interrupted except for employees' retirement or other circumstances stipulated in the Regulations on the Administration of Housing Provident Fund. It embodies the stability, unity, standardization and compulsion of housing provident fund.
Housing provident fund has two characteristics:
1, cumulative, that is, the housing provident fund is not an integral part of employees' wages, and it is not distributed in cash. It must be deposited in the special account opened by the housing provident fund management center in the entrusted bank, and special account management is implemented.
2. Specificity: The housing accumulation fund should be earmarked for special purposes and can only be used for purchasing, building, overhauling occupied houses or paying rent during storage. Only when employees leave, retire, die, completely lose their ability to work, terminate their labor relations with the unit or move out of the original city can they withdraw their housing from their registered permanent residence.
legal ground
Regulations on the administration of housing provident fund
Twenty-fourth employees in any of the following circumstances, you can withdraw the balance of storage in the employee housing provident fund account:
(a) the purchase, construction, renovation and overhaul of owner-occupied housing;
(2) retirement;
(three) completely lose the ability to work, and terminate the labor relationship with the unit;
(4) Having left the country to settle down;
(5) Repaying the principal and interest of the house purchase loan;
(six) the rent exceeds the prescribed proportion of family wage income.
In accordance with the provisions of items (2), (3) and (4) of the preceding paragraph, the employee housing provident fund account shall be cancelled at the same time.
If an employee dies or is declared dead, the employee's heirs and legatees may withdraw the storage balance in the employee's housing provident fund account; If there is no heir or legatee, the storage balance in the employee housing provident fund account shall be included in the value-added income of the housing provident fund.