Worth 1 month of salary offered into social security exemptions

T

Mini desc

Want to know more?

Interactive content on WeChat


 


Short Version

Social security exemptions will be offered to small, medium and big companies from February 2020 till June 2020. The exemptions are automatic and concern only a part of the employer payment.


These exemptions make the social security burden down of 21.9% – from 27.4% to 5.5% of the salaries – for 5 months, (1+ full month of salary economy)


The personal part still needs to be paid fully.


These exemptions are automatic, companies do not need to apply for them.

Details


1. Enterprises are exempt from paying 3 kinds of social insurances

 

Pension, Unemployment, and Work injury insurances will be halved from February to June (5 months) for micro, small and mediums enterprises, individual industrial and commercial households.

 

Pension, Unemployment, and Work injury insurances will be halved February to April (3 months) for large companies.

 

Pension, unemployment and work injury are halved only for the employer part, the personal part is still to be paid

 

 

2. 50% reduction on social security medical insurance

 

From February to June 2020 (5 months), a 50% reduction on the employer part of the medical insurance will be applied.

 

3. Refund for early payment

 

Full payment of February social security will be refounded in March automatically

 

4. Refund of last year unemployment security

 

Companies that did pay 2019 employment security in full can apply for a refund.

 

Join WeChat group chats now!


 

6. Quick calculations 

After regulations, the total of the 5 social securities will be only 5.5% for the employer parts.


While the personal part remains unchanged at 10.5%


For a cumulated (personal + employer ) of 16%


Minimum social security contribution (minimum salary base of 3364) = 538.24


Maximum social security contribution (maximum salary base 17613) = 2818.08


Photos

ae023df7d4694b4bd8452f0ae39199b6-sz_21702

User comments

There are no user comments for this listing.
Already have an account?
Anti Spam Check
Don't want to answer that question every time?
Register an account
It's FREE and give you access to advanced features
Comments
You will be able to upload media right after you submit your comment.
Top Contributors
Browse our amazing community
  • Vika

    Vika

  • Vlada

    Vlada

  • Andy Lewis

    Andy Lewis

  • Mallory

    Mallory

  • Camilla Meklenborg Bjerregaar

    Camilla Meklenborg Bjerregaar

  • reinaldo

    reinaldo

  • 帕丽斯Prisca

    帕丽斯Prisca

  • jeanette mar

    jeanette mar

  • Natia Latsabidze

    Natia Latsabidze