As awareness of individual rights is growing, the question of how to eliminate the housing fund is increasingly being discussed. In certain specific cases, such as divorce, the acquisition of housing in the area to which it belongs or the application for a non-residential settlement, the use of the housing fund account may be eliminated. The issues related to the cancellation of the Housing Provident Fund account are discussed below。

How do you cancel the housing fund

I. Conditions to be met for the cancellation of the Housing Provident Fund account

According to State regulations, certain conditions are required to be met in order to cancel the SPF account, including home ownership, retirement, unemployment, family transfer, etc. In general, when you leave the current workplace or have purchased a property, an application can be submitted to the Provident Fund Administration, where retirees can use the Provident Fund account as the next step in the transfer of pensions, even in advance, etc. It is worth noting, however, that it is not possible to cancel the Housing Provident Fund account when the loan is outstanding。

II. DEFINITION OF THE HOUSING FUND ACCOUNTS

Under normal circumstances, the cancellation of the SPF account is different from the cancellation of other accounts or contracts. For individuals, it is an option to challenge some of the amounts ordered to be repaid, to state the circumstances, to apply for conciliation or arbitration, or to initiate civil action, and a legal avenue is a good one. It is therefore not believed to be too problematic to opt for the above-mentioned approach in cases where there is an irresistible factor。

III. REQUIREMENTS FOR THE DEFINITION OF THE HOUSING FUND ACCOUNT

When there is a need to cancel the Housing Provident Fund account, you need to take the following steps:

After a successful application for a write-off certificate, the release is registered at the loan bank on schedule。

2. Prepare relevant information, including mortgage bank contracts, documents, etc., and submit it to the bank for approval。

Upon completion of the process, it is essential that the documents be kept and a copy sent to the Housing Provident Fund Administration so as to ascertain whether the funds in its possession have been paid。

Summary

The Housing Provident Fund is an important system, but in practice the reasons for its elimination cannot be excluded in individual cases. Some of the circumstances and concerns that may exist with regard to the cancellation of the housing fund account must be carefully analysed in advance. The relevant information should be carefully studied before action was taken, and it would be easy to apply for release。