Introduction to Provident Fund Provident Fund is one of the "five insurances and one fund" that people often say, also known as housing provident fund. It is the housing welfare provided by the state to the people, and the payment of the provident fund needs to be paid by the employee's unit and the employee together. At the same time, the payment of provident fund is mandatory, which is the capital that all urban enterprises must pay for their employees. The amount paid by the provident fund, whether it is the part paid by the company or the part paid by the individual, will eventually belong to the employees and will be in their names.