What should I do if Shanghai Provident Fund deduction fails?

If the provident fund deduction fails, you should promptly contact the bank that handles the provident fund loan to inquire about the reason for the provident fund deduction failure. If the deduction fails due to insufficient balance in the provident fund, you need to check whether the provident fund has been successfully received recently. If there is no flaw in the account but the balance is still insufficient, you need to replenish the provident fund balance and perform subsequent deductions.

Legal Basis

Article 32 of the "General Principles of Loans"

The borrower shall repay the loan principal and interest in full and on time in accordance with the loan contract. The lender shall send a notice of principal and interest repayment to the borrower one week before the expiration of a short-term loan and one month before the expiration of a medium- and long-term loan; the borrower shall prepare funds in a timely manner and repay the principal and interest on schedule. Lenders must promptly issue collection notices for overdue loans and do a good job in collecting the principal and interest of overdue loans. If the loan cannot be repaid within the time limit stipulated in the loan contract, the lender shall impose penalties and interest in accordance with regulations; if the loan cannot be repaid or cannot implement the repayment of principal and interest, it shall urge the repayment or prosecute in accordance with the law.

Article 36 of the "Housing Provident Fund Management Regulations"

Employees and units have the right to inquire about the payment and withdrawal of housing provident funds of themselves and their units. The housing provident fund management center and recipients shall The entrusting bank shall not refuse. If employees or units have objections to the balance of the housing provident fund account, they can apply for review by the entrusted bank; if they have objections to the review results, they can apply to the Housing Provident Fund Management Center for re-examination.