Can you still take out the provident fund if you've cut off the payment?

Public funds can still be taken out after the break, the process is as follows:

1, go to the local housing provident fund management center or bank outlets, apply for the withdrawal of provident fund procedures;

2, in the withdrawal procedures, fill in the relevant information, including personal basic information, reasons for the withdrawal, etc., and at the same time need to be noted in the application form that the account has been disconnected;

3, submit the Relevant materials, including personal ID and other valid documents and provident fund account information;

4, waiting for the audit and arrival, housing provident fund management center or the bank will audit the withdrawal application, if the audit is passed, the corresponding provident fund will be transferred to the bank account of the withdrawer. The specific arrival time varies according to local regulations and bank processing speed, generally need to wait a few working days to dozens of working days ranging.

Consequences of broken contributions to provident fund:

1, affecting the accumulation of funds in one's provident fund account: provident fund is one of the important assets of an individual, and if one breaks contributions to provident fund for a long period of time, it will lead to insufficient accumulation of funds in the account of provident fund, which will affect one's subsequent plan to buy or rent a flat.

2, affecting the application for a loan from a provident fund: provident fund loan usually requires a certain amount of contributions to a provident fund account, and it will also affect one's ability to buy or rent a flat. If an individual breaks his/her CPF contributions for a long period of time, it will affect his/her CPF loan eligibility and amount;

3. Individuals will be liable for fines: If an individual breaks his/her CPF contributions for a long period of time either intentionally or by negligence, he/she will be fined a certain amount of money, which will depend on the regulations in different regions;

4. Social security and welfare benefits: Provident fund is one of the most important components of one's social security and welfare benefits, so if you don't contribute to it for a long period of time, it will affect your social security and welfare benefits, such as pension insurance, medical insurance, and so on.

In summary, provident fund withdrawal rules and policies may vary from region to region and from bank to bank. Applicants are advised to understand the local policy rules and procedures before making a withdrawal for better operation.

Legal basis:

Article 24 of the Regulations of the People's Republic of China on the Administration of Housing Provident Funds

An employee may withdraw the stored balance in the employee's housing provident fund account under one of the following circumstances:

(1) purchasing, constructing, refurbishing, or overhauling the housing unit he or she owns;

(2) retiring from the workforce; retiring from the workforce; and

(c) complete loss of labor capacity and termination of labor relations with the unit;

(d) leaving the country for settlement;

(e) repayment of principal and interest on a loan for the purchase of a house;

(f) rent in excess of the prescribed percentage of the family's wage income.

In accordance with the provisions of the preceding paragraph (b), (c), (d), the withdrawal of the employee's housing fund shall be canceled at the same time the employee's housing fund account.

If the employee dies or is declared dead, the heir or legatee of the employee may withdraw the stored balance in the employee's housing fund account; if there is no heir or legatee, the stored balance in the employee's housing fund account shall be included in the value-added income of the housing fund.