How to deduct funds from Nanjing Provident Fund
The provident fund is an important benefit for employees. As the capital city of Jiangsu Province, Nanjing’s provident fund policy has attracted much attention. This article will introduce in detail the Nanjing Provident Fund deduction methods, calculation rules and related precautions to help you better understand and use the Provident Fund.
1. Basic rules for Nanjing provident fund deductions
Nanjing provident fund deductions are mainly divided into two parts:Personal deposit partandUnit deposit part. According to the regulations of the Nanjing Housing Provident Fund Management Center, the contribution ratio of the provident fund is a certain proportion of the employees' wages paid by individuals and units. The specific ratio is as follows:
| depositor | Deposit ratio | Deposit base |
|---|---|---|
| personal | 5%-12% | Average monthly salary of employees in the previous year |
| unit | 5%-12% | Average monthly salary of employees in the previous year |
It should be noted that there are upper and lower limits on the deposit base. The upper limit of Nanjing provident fund deposit base in 2023 is31,200 yuan, the lower limit is2,280 yuan. The specific contribution ratio is determined through negotiation between the unit and the individual, but it must be within the prescribed range.
2. Calculation method of Nanjing provident fund deductions
The formula for calculating the provident fund deduction amount is:Deposit base × deposit ratio. Here are a few examples:
| Employee monthly salary | Deposit base | Personal contribution ratio | Unit deposit ratio | Personal monthly deposit amount | Unit monthly deposit amount | Total monthly deposit amount |
|---|---|---|---|---|---|---|
| 8,000 yuan | 8,000 yuan | 10% | 10% | 800 yuan | 800 yuan | 1,600 yuan |
| 15,000 yuan | 15,000 yuan | 12% | 12% | 1,800 yuan | 1,800 yuan | 3,600 yuan |
| 35,000 yuan | 31,200 yuan | 12% | 12% | 3,744 yuan | 3,744 yuan | 7,488 yuan |
3. Things to note when deducting funds from Nanjing Provident Fund
1.Deposit time: Nanjing provident fund is paid on a monthly basis, and the unit should complete the payment within 5 working days from the date of monthly salary payment.
2.Deposit method: Units need to make deposits through the online service platform of the Nanjing Housing Provident Fund Management Center or at the bank counter.
3.Change adjustments: The deposit ratio and base can be adjusted once a year, and the adjustment time is July of each year.
4.Back payment provisions: If the unit fails to pay the provident fund on time, it must pay back the provident fund and pay late payment fees in accordance with regulations.
4. Use of Nanjing Provident Fund
Nanjing Provident Fund can not only be used for home purchase loans, but also for rental withdrawals, serious illness medical withdrawals, etc. The following are the main uses of provident funds:
| Purpose | Extraction conditions |
|---|---|
| Home loan | Continuous deposit for more than 6 months |
| Rent extraction | Workers without housing can apply |
| Medical treatment for serious illness | You or your immediate family members suffer from serious illness |
| Retirement Withdrawal | Reaching statutory retirement age |
5. Frequently Asked Questions
Q: Will provident fund deductions affect my wages?
A: Yes. The provident fund is deducted from wages, so the actual salary received will be reduced, but the employer will also contribute the same amount of provident fund for you.
Q: Can I choose the provident fund contribution ratio by myself?
A: The contribution ratio is determined by the unit and the individual through negotiation, but it must be within the range of 5%-12%.
Q: Can provident fund be paid back?
A: Yes. If the unit fails to pay the deposit on time, it must make up the payment and pay a late fee.
Summary
The deduction rules for Nanjing Provident Fund are clear and clear. Individuals and units contribute in proportion, and there are upper and lower limits on the payment base. Reasonable use of provident funds can provide housing security and other benefits for employees. If you have questions about provident fund deductions, you can consult the Nanjing Housing Provident Fund Management Center or log on to its official website for detailed information.
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