What's the difference between social security and provident fund?

What's the difference between social security and provident fund?

1, with different connotations: social security includes different types of insurance such as medical care and pension, while provident fund is used for housing loans and other funds. 2. Different payment proportions: the payment proportions of each insurance type of social security are different, while the provident fund is paid by units and individuals, which are 12% respectively. 3. The payment subjects are different: the old-age insurance and medical insurance are paid by individuals, and the rest are paid by units, and the provident fund is not mandatory.

How to withdraw provident fund

1. Before withdrawing the provident fund, the payment of the provident fund should be suspended first, so as to withdraw the provident fund. Therefore, before the employee resigns, the company will help us handle the storage procedures of housing provident fund.

2. If the foreign household registration wants to withdraw the provident fund, we need to open a certificate from a foreigner, and the company will help to open a certificate of resignation. The handler only needs to bring these two pieces of information and ID card to handle it.

3. Then, hand over the materials to the provident fund management center, hand over the materials to the staff, tell them to withdraw the housing provident fund, and then start the formalities.

4. When withdrawing the provident fund, you should also prepare a bank card, which must be the bank card designated by the provident fund management office. Then tell the staff account and they will transfer the money from the provident fund account to the bank card.

5. After the formalities are finished, you can get some receipts. Keep these receipts well and don't throw them away, because they prove that the provident fund has been withdrawn. If you have any questions, you can take these receipts to the provident fund management center to ask about the situation.

6. After the withdrawal of the provident fund is completed, just wait for the account to arrive, usually about 7 days. So in the meantime, don't worry, just check it in time.

Bian Xiao concluded: The above is the difference between social security and provident fund. I believe everyone understands! Social security and provident fund are very different. They are different concepts, so you should ask clearly before paying.