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Corporate Service - China

Question

Q&A Regarding Housing Fund in Beijing (7)

Answer
Q:
Who should handle the withdrawal of housing fund?
A:
The withdrawal of housing fund is generally handled by the employer of the employee.

Q:
Can employees apply to terminate the agreed withdrawal of housing fund?
A:
Due to the individual application of the employee, the unit operator can go to the housing fund management centre for agreed withdrawal termination.

Q:
Under what circumstances will the agreed withdrawal business terminate?
A:
The:
  1. Due to the individual application by employees;
  2. The management centre failed to transfer funds;
  3. The accumulated amount of withdrawal has reached the withdrawable limit;
  4. External transfer out account cancellation, account withdrawal or transfer  into the centralized storage has been processed;
  5. If an employee applies for a housing fund loan and is overdue for three months without justifiable reasons, the management centre has the right to terminate the agreed withdrawal business;
  6. Due to the agreement that the balance of the employee housing fund account on the day of withdrawal is less than 10 yuan (including 10 yuan), resulting in three consecutive withdrawal cycles of transfer failure.

Q:
Can the agreed withdrawal be handled again after the agreed withdrawal is terminated?
A: The agreed withdrawal business may be handled again after the termination of the agreed withdrawal.

Q:
Is there need apply for changes after the employee's bank account has changed?
A: When there is a change in personal bank account or information, the procedures for changing personal information should be handled in a timely manner.

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