How to calculate provident fund amount
As an important social security system, provident fund is related to everyone's housing problem. In recent years, provident fund policies have been continuously adjusted and have become a hot topic of social concern. This article will introduce in detail how to calculate provident fund, and attach structured data to help you quickly understand your provident fund payment status.
1. Basic concepts of provident fund
Provident fund, the full name of housing provident fund, is a long-term housing savings system jointly paid by employees and employers. The proportion and base of provident fund contributions vary from region to region and policy, but the basic principle is that employees and employers each pay a certain proportion of wages.
2. Calculation formula of provident fund
The calculation formula of provident fund is as follows:
| project | Calculation formula |
|---|---|
| Personal payment part | Personal monthly payment amount = payment base × personal payment ratio |
| Unit payment part | Unit’s monthly deposit amount = payment base × unit’s deposit ratio |
| Total monthly deposit amount | Total monthly payment amount = personal monthly payment amount + unit monthly payment amount |
3. Deposit base and deposit ratio
1.Deposit base: The contribution base of provident fund is usually the average monthly salary of employees in the previous year, but there are upper and lower limits in different regions. For example, a certain place stipulates that the deposit base shall not be lower than the local minimum wage and shall not be higher than three times the local average wage.
2.Deposit ratio: The contribution ratio of provident fund is stipulated by the local housing provident fund management center, usually between 5% and 12%. The contribution ratios of employees and units can be the same or different. The specific ratios are determined by the unit.
| area | Minimum deposit base | Maximum deposit base | Personal contribution ratio | Unit deposit ratio |
|---|---|---|---|---|
| Beijing | 2320 yuan | 27786 yuan | 5%-12% | 5%-12% |
| Shanghai | 2480 yuan | 28017 yuan | 5%-12% | 5%-12% |
| Guangzhou | 2100 yuan | 30876 yuan | 5%-12% | 5%-12% |
4. Provident Fund Calculation Example
Assume that an employee works in Beijing, his average monthly salary in the previous year was 10,000 yuan, and the contribution ratio of both the individual and the unit was 12%. Then his provident fund is calculated as follows:
| project | Amount |
|---|---|
| Deposit base | 10,000 yuan |
| Personal monthly deposit amount | 10,000 × 12% = 1,200 yuan |
| Unit monthly deposit amount | 10,000 × 12% = 1,200 yuan |
| Total monthly deposit amount | 1200 + 1200 = 2400 yuan |
5. Other uses of provident funds
In addition to being used for home purchase loans, provident funds can also be used for the following purposes:
1.Rent extraction: Some areas allow employees to withdraw provident funds to pay rent.
2.decoration extraction: Some areas allow employees to withdraw provident funds for housing decoration.
3.Medical treatment for serious illness: Some areas allow employees to withdraw provident funds due to medical needs for serious illnesses.
4.Retirement Withdrawal: Employees can withdraw their provident fund account balance in one lump sum after retirement.
6. How to check provident fund
Employees can check their provident fund accounts through the following methods:
1.Online inquiry: Log in to the official website or mobile APP of the local housing provident fund management center and enter personal information to query.
2.Counter inquiry: Bring your ID card to the counter of the local housing provident fund management center to inquire.
3.Telephone inquiry: Dial the customer service number of the local housing provident fund management center and follow the voice prompts to inquire.
7. Summary
Provident fund is an important social welfare, and employees and employers should pay it in full and on time. Through the introduction of this article, I believe you already understand how provident fund is calculated. If you still have questions about provident fund policies, it is recommended to consult the local housing provident fund management center.
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