It is said that the benefits of big companies are good. Indeed, the provident fund alone is very good. The maximum provident fund payment ratio is 12% and the minimum is 5%. Although the difference is not much, this is a big difference. Money is still money that can be withdrawn.

You may have heard about the provident fund payment situation of large factories. The provident fund policies of different companies vary greatly. Let's take a closer look

The secret of the provident fund ratio of big factories is revealed

Let’s first take a look at the big manufacturers that we are familiar with.

Alibaba, Tencent, Amazon, Baidu, and ByteDance all have provident fund payment ratios as high as 12%, and their benefits are fully maximized!

But for large companies like NetEase and JD.com, the payment ratio is a bit mysterious, ranging from 5% to 12%.

Especially in different cities, such as Chengdu where I am located, the provident fund payment ratio is different. Tencent is 10%, while Meituan is 8%.

Provident fund ratio of companies in Chengdu area (basically paid based on full salary)

1. Ant 12%
2. Meituan 8%
3. Tencent 10%
4. Baidu 12%
5. Byte 12%
6. JD.com 5%
7. Huawei 5% (basic salary paid)
8. Siemens 10%
9. Industry and commerce Banks 12%
10. CMB Network 12%
11. Minsheng Bank 12%
12. West China Securities 10%
13. AIA 8%
14. Oriental Fortune 7%
15. FAW-Volkswagen 12%

As a major first-tier manufacturer, Huawei has a minimum payment standard of 5% in terms of provident fund, which has also aroused ridicule from many students.

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Why care about provident fund

This may sound like a matter of a small portion of your salary, but in reality, CPF is about your housing, quality of life and even your future financial security.

To put it simply, the provident fund can not only be used to get a loan to buy a house, but also to pay rent and reduce the stress of life. More importantly, provident fund is a long-term accumulation that can bring you considerable funds in the future.

Five major benefits of provident fund

• Doubling your funds: The personal contribution ratio is generally between 5% and 12%, and the unit subsidizes it accordingly, which is equivalent to an extra increase in your salary.

• Low-interest loans to buy a house: Provident fund loans usually have lower interest rates than commercial loans, which can greatly reduce your burden when buying a house.

• Withdrawal for home purchase and construction: You can withdraw your provident fund when purchasing or building a home for self-occupation.

• Pay rent: If you don’t own a house where you work, you can use your provident fund to pay your rent.

• Interest calculation: Provident fund will calculate interest every year according to a certain interest rate, which means that your deposit will increase year by year.

special attention items

When signing a work contract, pay special attention to asking about the provident fund contribution ratio and base.

Some companies may secretly pay according to the minimum base, and the actual provident fund received in the end is far less than it seems.

Tell a little story. When I first started working, I was also a spender. But thanks to the "life-saving straw" of provident fund, after a few years, the provident fund withdrawals turned out to be more than the deposits!

After all, although provident fund is not so conspicuous in daily work, it is actually an important benefit provided by large factories.

Looking back, the large companies we have seen, whether they are Alibaba, Tencent, Baidu, or ByteDance, provide a high 12% provident fund payment, which is undoubtedly a major manifestation of employee welfare.

So, the next time you evaluate a job opportunity, don’t forget to factor in CPF.

Conclusion

Finally, don’t underestimate provident funds. Although it may seem inconspicuous now, in the long run, it is also a small fortune. So, when you choose a company, don’t forget to consider the provident fund.

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