??The “Regulations on the Administrative Enforcement of Housing Provident Funds in Zhongshan City” will be implemented on September 1 and be valid for 5 years, according to Zhongshan Housing Provident Fund Management Center.
??The Housing Provident Fund Management Center has also formulated rules for administrative penalties. Employing units that do not register housing provident fund deposits or do not establish housing provident fund accounts for employees are required to complete the procedure within a time limit, otherwise will be imposed a fine between 10,000 and 50,000 yuan. Employing units that complete rectification within the prescribed time limit will not be fined.