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

The main differences between social security and provident fund are:

1. Social security mainly includes pension, medical care, work injury, maternity and unemployment insurance, and provident fund refers to housing provident fund.

2, social security and provident fund belong to two different units, social security is the social security bureau, provident fund is the housing provident fund management center.

3. Endowment insurance and medical insurance need to pay a certain number of years, and the provident fund is paid monthly.

Provident fund refers to housing provident fund. Housing accumulation fund refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions and their employees. Social security refers to a non-profit social security system with the function of income redistribution for the purpose of preventing and forcing most members of society to participate.

Social insurance is a social and economic system that provides income or compensation for those who lose their ability to work, are temporarily unemployed or suffer losses due to health reasons. The social insurance plan is organized by the government, forcing a certain group to use part of its income as social insurance tax (fee) to form a social insurance fund. Under certain conditions, the insured can get fixed income or loss compensation from the fund. It is a redistribution system, and its goal is to ensure the reproduction of material and labor and social stability. The main items of social insurance include endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance.

legal ground

Regulations on the administration of housing provident fund

Twenty-fourth employees in any of the following circumstances, you can withdraw the balance of storage in the employee housing provident fund account:

(a) the purchase, construction, renovation and overhaul of owner-occupied housing;

(2) retirement;

(three) completely lose the ability to work, and terminate the labor relationship with the unit;

(4) Having left the country to settle down;

(5) Repaying the principal and interest of the house purchase loan;

(six) the rent exceeds the prescribed proportion of family wage income. In accordance with the provisions of items (2), (3) and (4) of the preceding paragraph, the employee housing provident fund account shall be cancelled at the same time. If an employee dies or is declared dead, the employee's heirs and legatees may withdraw the storage balance in the employee's housing provident fund account; If there is no heir or legatee, the storage balance in the employee housing provident fund account shall be included in the value-added income of the housing provident fund.