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How to pay for endowment insurance? Payment standard of enterprise endowment insurance in 2019

the endowment insurance in social security can be divided into urban employees' Endowment Insurance and urban residents' endowment insurance. The payment standards of the two are different, of course, the pension after retirement is also different. Because the old-age insurance for employees is jointly borne by the unit and the individual, and the old-age insurance for urban residents is not the same, then how to pay for the old-age insurance for employees? 2019 enterprise endowment insurance payment standard to understand.

The payment standard of employee endowment insurance includes:

Endowment insurance payment undertaken by the employer

The state stipulates that the employing unit shall pay the basic endowment insurance expenses according to the proportion of the total wages of its employees. This part of the expenses are all entered into the basic endowment insurance co-ordination fund account. At present, the payment proportion of enterprises shall not exceed 20% of the total wages of enterprises. The specific proportion shall be determined by the governments of various regions. If there are a small number of provinces, autonomous regions or municipalities directly under the central government with a large number of retirees, the burden of endowment insurance expenses is relatively heavy, and it needs to exceed 20% of the total wages of enterprises, it shall be reported to the Ministry of human resources and social security and the Ministry of Finance for approval.

Payment of endowment insurance undertaken by employees themselves:

Payment base and proportion of endowment insurance for employees:

Since January 1, 2006, the individual account payment of employee pension insurance has been reduced from 11% of employee's individual payment wage to 8% of employee's individual payment wage. All individual accounts are formed by employee's individual payment, and the payment borne by the unit is no longer transferred into the individual account. Payment wage, that is, the base of payment wage, is generally the average monthly wage of the employees in the previous year. According to the regulations of the National Bureau of statistics, the monthly average wage shall be included in the items of total wage statistics. Including wages, bonuses, allowances, subsidies and other incomes, but excluding the social insurance premiums, labor protection premiums, welfare premiums borne or paid to employees by the employer, one-off compensation paid by the employer when terminating the labor relationship with employees, family planning expenses and other expenses not belonging to wages.

Calculation of the accumulated amount of the employee's personal endowment insurance account:

Monthly storage amount = my monthly payment wage * 8%

In addition: if the monthly average wage of individual employees is lower than 60% of the monthly average wage of local employees, 60% of the monthly average wage of local employees will be used as the payment base. If the monthly average wage of the employee is three times higher than the average wage of the local employee, then three times of the monthly average wage of the local employee will be taken as the payment base.

The payment standard of endowment insurance for employees is:

The endowment insurance expenses borne by the employer for the employees shall be paid at 20% of the total wages of the employees, while the individual of the employees shall be paid at 8% of the monthly wages of the employees.

Therefore, for the payment of endowment insurance for employees, the expenses borne by the company are the majority, while the endowment insurance expenses borne by the employees themselves account for a small part.