Provident fund usually refers to housing provident fund. The housing accumulation fund system is actually a housing security system and a form of monetization of housing distribution. The housing accumulation fund system is an important social security system for housing stipulated by national laws, which is mandatory, mutually supportive and guaranteed. Units and individual employees must fulfill their obligations to pay housing provident fund according to law. The housing provident fund paid by individual employees and the housing provident fund paid by the unit shall be stored in special accounts and owned by individual employees.
Housing accumulation fund is related to the vital interests of employees. There are hard and fast rules for the expenditure of the provident fund, but there are always some brokers holding the provident fund and playing various tricks to help you "cash out" the provident fund. As everyone knows, such behavior is illegal for the extractor and the "broker", and serious cases will be investigated for criminal responsibility.
Conditions for the use of provident fund:
(a) the purchase, construction, renovation and overhaul of owner-occupied housing;
(2) retirement;
(three) most or all of them lose their ability to work and terminate their labor relations 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;
Illegal use of provident fund:
Eighteenth illegal withdrawal of the balance of my housing provident fund account by deception, the municipal provident fund management center shall order the illegal withdrawal amount to be returned within a time limit, and may impose a fine of more than 50% of the illegal withdrawal amount10.
Take fraudulent means to illegally extract the balance stored in other people's housing provident fund accounts, and the municipal provident fund management center shall order it to return the illegal fund-raising amount within a time limit, and may impose a fine of more than 5 times the illegal fund-raising amount 1 times; If a crime is constituted, criminal responsibility shall be investigated according to law.
Article 19 If a borrower illegally obtains a housing provident fund loan by deception, the municipal provident fund management center shall order the borrower to return the illegal loan amount within a time limit, and may cancel his qualification for housing provident fund loan for 1 to 5 years, or impose a fine of more than 10% and less than 50% of the illegal loan amount; If a crime is constituted, criminal responsibility shall be investigated according to law.
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