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Corporate Service - China

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Q&A Regarding Housing Fund in Beijing (6)

Answer
Q:
What is the into transfer from external of housing fund?
A:
The into transfer from external of housing fund includes the into transfer of the staff housing fund from other provinces or sub-centres and the into transfer from the centralized storage warehouse.

Q:
What is the outward transfer of housing fund?
A:
The outward transfer of housing fund refers to the transfer application of the staff housing fund to other province or a sub-centre of authority directly under the central government, a sub-centre of state authority management, a sub-centre of railway, and a centralized storage warehouse.

Q:
What is the prerequisites for handling the housing fund transfer business?
A:
  1. The housing fund transfer business requires the unit to handle the sealing procedures for the employees first, that is, the personal account must be sealed;
  2. Handle transfer due to work change, the new unit should be from the date of the establishment of labor relations with the employee within 30 days, first for the employee to open a personal housing fund account, and then go through the housing fund transfer procedures.

Q:
What is the agreed withdrawal of housing fund?
A: The agreed withdrawal of housing fund refers to the relevant agreement for the future withdrawal of housing fund by the employees and their spouses who apply to the housing fund management centre for partial withdrawal of housing fund due to the purchase, construction, renovation, overhaul of self-occupied housing and repayment of principal and interest of housing loans. The housing fund management centre will transfer the withdrawn funds into the employee's own bank account in accordance with the agreed time.

Q:
Which employees can not handle the agreed withdrawal of housing fund?
A: Under any of the following circumstances, the agreed withdrawal service cannot be processed:
  1. Employees are in a in centralized storage warehouses;
  2. Employees who are in a deferred or sealed state of payment;
  3. Employees who have not paid the housing fund normally for more than three months.

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