Guangzhou has adjusted the social insurance policy. Starting in July, employees and employers need to pay more for their contributions.
Starting from July 2020, the employer’s minimum base of the social insurance contributions in Guangzhou has increased. The minimum base for basic medical insurance and maternity insurance is adjusted from 5,592 yuan to 6,175 yuan; The minimum base for critical illness insurance is adjusted from 9,320 yuan to 10,292 yuan.
After adjustment, the employer’s contributions increase by 151.4 yuan, while the employee needs to pay 11.66 yuan more. There might be a slight difference in different sectors and regions.
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Meanwhile, China has introduced supportive policies that micro, small and medium enterprises (SMEs) are allowed to delay the payment of the social insurance contributions to the end of the year. If you worry that your employees’ benefits will be affected due to the delay, please pay on time as originally required.
In accordance with relevant Chinese laws and regulations, an employer shall product the social insurance registration for the employees and make social insurance contributions to ensure their benefits.
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SOURCE | China Gov