Issuance of Beijing Municipal Housing Provident Fund Management Committee [2016] No. 2

Beijing Municipal Housing Provident Fund Management Center and all Units for Housing Provident Fund Deposit,
    According to the requirements of the Notice of the Ministry of Housing and Urban-Rural Development, National Development and Reform Commission, Ministry of Finance and the People’s Bank of China on the Standardization and Periodical Proper Reduction of the Housing Provident Fund Deposit Ratio (Jian Jin [2016] No. 74), approved by the 16th Meeting of Beijing Municipal Housing Provident Fund Management Committee after review, and reported to the municipal government for approval, the relevant matters regarding the adjustment of Beijing housing provident fund deposit ratio are hereby notified as follows:
    I. The enterprise housing provident fund deposit ratio in Beijing is adjusted to 5%-12%. Enterprises can, according to their own economic conditions, determine the specific deposit ratio within the prescribed scope upon discussion and approval of the unit staff general meeting, congress of workers and staff or labor union. The deposit ratio of other units is 12%.
    II. Enterprises with difficulties in production and operations may, upon discussion and approval of their unit staff general meeting, congress of workers and staff or labor union, apply for a deferred deposit of housing provident funds. After the improvement of the enterprise profitability, it can resume the deposits and pay the housing provident funds in arrears.
    III. After the notice is released, the newly established housing provident fund unit shall determine the deposit ratio when opening an account. The deposit ratio of units with established housing provident fund shall be adjusted at the time of 2016 annual inventory establishment of housing provident fund for approval. The housing provident fund deposit ratio of unit is adjusted once a year.
    IV. This notice shall be implemented as of May 1, 2016 and will be implemented temporarily for two years.
 
                                                                           Notice of Beijing Municipal Housing Provident Fund Management Committee
                                                                                                                                    April 30, 2016