Chapter Three Payment and Deposit

 Article 15 A newly-established unit shall undertake the registration of payment and deposit of housing provident fund at the managing center of housing provident fund within 30 days of its establishment, and shall , on the basis of the verification documents of the managing center of housing provident fund, undergo the procedure of opening the accounts of housing provident fund for its workers and staff at the commissioned bank within 20 days of the registration. Each worker and staff shall only have one account of housing provident fund.

Article 16 the payment and deposit ratio of housing provident fund is the average monthly salary in last year timing of the worker or staff .A new worker or staff shall begin to pay and deposit the housing provident fund from the second month after his or her beginning of work, the monthly amount of payment and deposit equals to the product of his or her salary in this month timing the payment and deposit ratio of housing provident fund of the worker or staff.

Article 18 The payment and deposit ratio of housing provident fund of a worker and staff as well as a unit shall not be less than 5% of the monthly average salary in the last year; and shall not be more than20% of the monthly average salary in the last year;The payment and deposit ratio of housing provident fund of a worker and staff can be decided independently by unit . Each unit shall only have one the payment and deposit ratio of housing provident fund.

Article 19 The monthly amount of housing provident fund paid and deposited by a worker or staff equals to the product of his or her monthly salary timing the payment and deposit ratio of housing provident fund of the worker or staff.

Article 20 The payment and deposit ratio of housing provident fund of a worker and staff shall be adjusted by the unit once each year. The payment and deposit ratio of housing provident fund of a worker and staff shall be adjusted by the unit once each year. Acorrding to the  circumstance of staff salary and  in accordance with the regulations of the housing fund center. 

Article 21 The housing provident fund to be paid and deposited by a worker or staff shall be withheld monthly from his or her salary by the unit to which he belongs. A unit shall timely pay and deposit housing provident fund in full amount, and shall not pay and deposit it after the expiration of the time period or pay it not in full amount. Unit should hire  a designated person that is in charge of it.In the labour contract that signed by the employer and the employee, the employee’s obligation of paying housing fund for the employee shall be clearly stated.

住房公积金英文版