When can employees expect the Social Insuance and Housing Funds?



Modified on: Fri, 15 Mar, 2024 at 6:41 AM



Q;When shall employee expect the contribution of Social Insurance and Housing fund arrive to employee personal accounts?

A:

Instead of directly transferring funds from the company account to individuals, a new system has been implemented for the collection and distribution of social insurance (SI) and housing fund (HF). Under this system, the authorities and the Provident Fund Management Center will collect these contributions from the company's debit account. Subsequently, local authorities will remit these funds to the respective SI/HF accounts of individuals.


Based on general understanding from previous cases, it is common for individuals to receive their remittances in batches by the authorities during the first month following their onboarding process. This approach ensures that all necessary administrative procedures are completed accurately before disbursing payments.


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