What is the difference between housing subsidy and housing accumulation fund
I believe everyone is more concerned about housing. When looking for a job, many people have to see whether the company has the welfare of housing provident fund. Here, some people ask if there is any difference between housing subsidy and housing provident fund. Next, I will summarize the difference between the two.
1、 Different object ranges
The establishment scope of housing provident fund is basically all in-service employees of each unit, while retired employees are not established; the distribution object scope of housing subsidy is the employees of each unit without housing and whose housing area does not reach the housing subsidy area standard corresponding to their rank, including retired employees, who are part of all employees (in line with specific conditions).
2、 The composition is different
Housing provident fund is composed of two parts: individual employee withholding from salary and unit subsidy; housing subsidy is the subsidy given by unit unilaterally to employee, without individual employee withholding from salary.
1. In some cases, housing provident fund is equivalent to housing subsidy. When enterprises and institutions implement monetization of housing distribution, they can either establish supplementary housing accumulation fund or directly issue housing subsidies. Therefore, when the unit adopts the form of establishing supplementary housing provident fund to implement monetization, at this time, the new supplementary housing provident fund department based on the original housing provident fund deposit of employees is essentially housing subsidy.
2. The sources of funds for housing provident fund and housing subsidy are the same. These two sources of funds are based on the transfer of the original housing fund of the unit, and the insufficient departments distinguish the different nature of the unit and allocate or disburse the cost from the financial budget.
3. The management and use of housing provident fund and housing subsidy funds are basically the same. At present, the housing subsidy fund must open an employee housing subsidy account in the housing fund management center system, which is stored and used in a special account according to the housing provident fund, and accounted separately with the housing provident fund. They are basically the same in the specific fund management mode and use direction.
4. Housing provident fund and housing subsidy have the same tax preference. The two funds of employees are exempt from individual income tax.
5. The ownership of housing provident fund and housing subsidy is the same. The housing accumulation fund and housing subsidy in the employee's personal account belong to the employee himself.
6. For the elderly workers who have no housing or fail to meet the standard in government institutions (including enterprises and institutions referring to the Monetization Mode of housing allocation), the amount of housing subsidies they receive is related to when the workers establish housing accumulation fund. Old employees refer to those who took part in work before the end of 1998 (including those who retired before the end of 1998). The housing subsidy for the elderly workers without housing is composed of one-time subsidy and monthly subsidy. The calculation formula of one-time subsidy is as follows: one-time subsidy = (average monthly standard wage of employees in 1998 * monthly housing subsidy coefficient in 1999) + (length of service subsidy in 1999 * length of service before the establishment of housing accumulation fund system * housing subsidy area standard); The old employees who fail to meet the standard of government housing receive the differential subsidy. The calculation formula of the differential subsidy amount is: the differential subsidy amount = (1999 benchmark subsidy amount + 1999 length of service subsidy amount * employee's length of service before the establishment of housing provident fund) * the differential area. Therefore, it can be seen from the formula that the establishment time of the housing provident fund of the old staff (except those who have reached the housing standard) is related to the amount of housing subsidies they receive, whether they have no housing or have not reached the housing standard.
7. Under the current new housing distribution system, the main way for workers to solve the housing problem is to use the funds including housing provident fund, housing subsidies, wages and savings, and to solve it through the support of housing loans. That is to say, housing accumulation fund and housing subsidy are two important sources of funds for workers to solve housing problems under the new housing distribution system.
Therefore, although both are subsidies for housing, there are still differences.