Notice on Launch of Trial Operation of Interbank Disbursement of Shanghai HPF’s Online Payment

SHGJJ No. 21(2015)

To All Units Liable to Pay the Housing Provident Fund:

As decided in wake of perusal, the municipal provident fund management center shall launch trial operation of online hpf payment’s interbank disbursement as of 20 March 2015 in a bid to further increase efficiency and enable paying units to make accurate and timely payment of housing provident fund without leaving their working areas. We hereby notify you of the following issues:

1. Interbank disbursement of the online hpf payment, based on PBOC’s Shanghai payment and clearing system and SPF’s online service system, is designed to enable China Construction Bank, entrusted with provident fund collection, to deduct and transfer a unit’s provident fund from its deposit bank of the basic account or any other account via PBOC’s payment and clearing system upon receiving the provident fund center’s fund transfer order, in a bid to accomplish paying units’ processing of interbank disbursement via accounts of banks other than China Construction Bank for housing provident fund’s monthly payment or paying arrears.

2. New functions have been added to the online service system, including monthly provident fund payment and paying arrears, in quest of an online approach to entity provident fund payment solution to replace the current over-the-counter handling method. Any entity resorting to interbank disbursement for housing provident fund payment via the online provident fund services handling system must first of all sign Agreement on Entrustment of Centralized Receiving and Disbursement via Shanghai Payment and Clearing System with the deposit bank of its basic account or any other account, proceed with procedures for authorizing fund transfer, before the deposit bank obtains access to the the service function from PBOC, and may consult the deposit bank for details pertaining to the service.  (See the attached List of Commercial Banks for Pilot Run)

3. After fulfilling the aforesaid signing and authorizing formalities, the entity shall go to CCB’s designated service counter for submission of the pertinent authorization statement to SPFMC, and apply via the online service system for use of the special provident fund credential of the all-in-one legal person certification solution, as well as an cryptographic key or access to the online payment service function. Once granted access, the entity, having completed ratification process for circumstances such as manpower increase or decrease, can make monthly housing provident fund payment for its employees via the online service system without leaving the working location.  

4. Blank forms, such as Authorization Statement Form for Online HPF Payment Service, are available on Shanghai Housing Provident Fund Website. For consultation about the service and the handling procedures, please contact SPFMC’s management divisions, CCB’s HPF service outlets in various districts/county, or HPF Hotline 12329.

Attachment: List of Commercial Banks for Pilot Run

Shanghai Provident Fund Management Center
20 March 2015  

List of Commercial Banks for Pilot Run

Shanghai Branch of China Construction Bank, Shanghai Branch of Industrial and Commercial Bank of China, Shanghai Branch of Bank of China, Shanghai Branch of Agricultural Bank of China, Shanghai Branch of China Bank of Communications, Shanghai Branch of China Merchants Bank, Shanghai Bank, Shanghai Branch of China Minsheng Bank, Shanghai Branch of Shanghai Pudong Development Bank, Shanghai Branch of Industrial Bank Co.,Ltd, Shanghai Branch of China Everbright Bank, Shanghai Branch of Ping An Bank, Shanghai Branch of China Guangfa Bank, Shanghai Branch of China CITIC Bank, Shanghai Branch of Beijing Bank, Shanghai Branch of Huaxia Bank, Shanghai Branch of Ningbo Bank, Shanghai Rural Commercial Bank