Guiyang's housing provident fund: Everything you need to know

A new beginner-friendly guide to Guiyang's housing provident fund has just been released.

Q1: What is the housing provident fund?
It refers to an employee's very own housing savings account – officially called the Housing Provident Fund. As long as employees have signed a labor contract, whether at a State-owned or private company, both the employee and the employer are required to contribute monthly.

Pro tip: All the money in the account belongs to the employee and can be used for purchasing or renting a home, and it even offers tax benefits.

Q2: How much does the employee contribute?

Monthly contribution = Contribution base × Contribution rate
The rate typically ranges from 5 percent to 12 percent, depending on the company's policy.

Q3: Does the company pay for everything?

The housing provident fund is a 50/50 split between employee and employer, but the total amount still goes into the employee's account.

Example: If an employee's monthly salary is 10,000 yuan ($1,393) and the contribution rate is 12 percent, your employer pays 1,200 yuan, you pay 1,200 yuan, totaling 2,400 yuan added to your personal account each month.

Q4: Can freelancers join?

Freelancers can now open personal housing provident fund accounts.

Freelancers can download the Guiyang Housing Provident Fund app to register online, or visit any housing provident fund service center or community service station in Guiyang with their ID.

Freelancers will contribute the full amount themselves, but they'll still enjoy the same housing loan benefits.

Q5: How do users check their balance?

They can verify by accessing three channels: the Guiyang Housing Provident Fund WeChat account, the "Guiyang Housing Provident Fund" app, and the Guiyang Housing Provident Fund official website.

For more questions, call Guiyang's government service hotline at +86-0851-12345.