What about the money in the zero balance account of the provident fund?

The money in the zero-balance cancellation account of the provident fund will be transferred to the state treasury for centralized management and will not be returned to individuals. You can handle this money by reopening a provident fund account or applying for withdrawal.

Zero balance cancellation of provident fund refers to the situation that there is no balance in the provident fund account after the employee leaves the company. According to the regulations, in this case, the funds in the account will be transferred to the state treasury for centralized management and will not be returned to individuals. However, individuals can handle this money in two ways: 1. Reopen a provident fund account. If an employee re-opens a provident fund account in a new unit, he can apply to the housing provident fund management department where the original provident fund account is located to transfer the original provident fund account and funds to the new unit. 2. Employees who apply for withdrawal can apply to the housing provident fund management department where the original provident fund account is located within 2 years after leaving the company. The items that can be extracted include the purchase of houses by oneself, spouse and children in the housing provident fund account. It should be noted that if the provident fund is not withdrawn within 2 years after leaving the company, and the provident fund account is in a state of zero balance for a long time, it may affect the personal credit record.

Can I transfer the funds to the provident fund account of the new unit? A: Yes. After the new unit reopens the provident fund account, employees can apply to the housing provident fund management department where the original provident fund account is located to transfer the original provident fund account and funds to the new unit.

The money in the zero-balance cancellation account of the provident fund will be transferred to the state treasury for centralized management and will not be returned to individuals. However, individuals can handle this money by re-opening a provident fund account or applying for withdrawal. It should be noted that the long-term zero balance of the provident fund may affect the personal credit record.

Legal basis:

"Regulations on the Management of Housing Provident Fund" Article 24 Employees may withdraw the storage balance in the housing provident fund account under any of the following circumstances: (1) purchasing, constructing, renovating or overhauling their own houses; 2 retired; (three) completely lose the ability to work, and terminate the labor relationship with the unit; (4) Having left the country to settle down; (5) Repaying the principal and interest of the house purchase loan; Rent exceeds the prescribed proportion of family wage income.