Home   FAQ  Accounting  China  The Notice On Extends the Implementation Period of Periodic Enterprise Social Insurance Premium Reduction Policy In Shanghai 

FAQ

SHARE

Accounting - China

Question

The Notice On Extends the Implementation Period of Periodic Enterprise Social Insurance Premium Reduction Policy In Shanghai

Answer
Shanghai Human Resources and Social Security Bureau officially issued a notice on extending the implementation period of the city’s phased corporate social insurance premium reduction policy on June 30, 2020. The policy is to provide assistance for various enterprises, especially small, medium and micro enterprises to deal with risks and overcome difficulties. Let's see how much helpful tips are in this notice?

Q:
What is the extended period of Shanghai's phased corporate social insurance premium reduction policy?
A: The partial exemption of the three social insurance policies for old, unemployed and work-related injuries for small and medium-sized enterprises will be extended to the end of December 2020. The policy of halving the payment of three social insurance units by large enterprises and other insured units (excluding government agencies and institutions) will be implemented until the end of June 2020.

Q:
For enterprises that have been severely affected by the epidemic and have serious difficulties in production and operation, can the previously applied deferred payment policy continue to be implemented?
A:
Enterprises that meet the regulations may continue to hold over the social insurance premiums until the end of December 2020 in accordance with relevant regulations, and no late fees will be charged during the holdover period.

Q:
During the epidemic, are there any adjustments to the upper and lower limits of the social security payment base in 2020?
A:
From July 2020 to June 2021, the lower limit of the individual payment base of Shanghai Social Insurance will continue to implement the lower limit standard of the individual payment base in 2019, and the upper limit of the individual payment base will be adjusted normally according to the regulations.

Q:
Are there any preferential policies for individual industrial and commercial households and various flexible employees who participate in the basic pension insurance of enterprise employees as individuals?
A:
If the relevant personnel do have difficulties, they can voluntarily suspend the payment of basic old-age insurance premiums in 2020 and make supplementary payments by the end of 2021. The payment base is freely selected within the upper and lower limits of the Shanghai individual payment base at the time of supplementary payment.

Q:
Whether corporate social insurance continues to implement preferential policies will affect the personal interests of employees?
A:
Shanghai will continue to take effective measures to respond to the burden reduction policy, ensure that the social security benefits of the insured persons are not reduced, and will be paid in full and on time.

Language

繁體中文

简体中文

日本語

close