According to the State Council's previous announcement, from May 1 this year, China's social security rate will usher in a new round of fee reduction, in which the basic endowment insurance rate of many provinces will be reduced to 16%. So the social security rate will be reduced in May. What's the specific standard of fee reduction? Let's take you to know.
What is the standard of social security rate reduction in May? A list of new social security rate reduction standards
From May 1, China reduced its social insurance rate. You Jun, Vice Minister of China's Ministry of human resources and social security, said on the 4th that it is expected to reduce the payment burden of endowment insurance by more than 190 billion yuan (RMB, the same below) in 2019, and reduce the payment burden of enterprise unemployment insurance and industrial injury insurance by more than 110 billion yuan. Together, the burden of social security payment can be reduced by more than 300 billion yuan in the whole year.
At the briefing held by the State Council Information Office on the same day, you Jun said that since 2015, China has reduced or phased reduced the social security rate for five times. It is estimated that by April 30 this year, the current policy of phased rate reduction will expire, which will reduce the social security payment burden of enterprises by nearly 500 billion yuan. With the new situation of economic development, enterprises appeal to further reduce the burden of payment, which the central government attaches great importance to. The comprehensive plan for reducing social insurance rate has been officially issued and implemented.
What is the standard of social security rate reduction in May? A list of new social security rate reduction standards
Endowment insurance, urban workers basic endowment insurance (including enterprises and institutions) units pay more than 16% of the provinces to 16%.
Unemployment insurance, continue to implement the total rate of 1% until April 30 next year.
Industrial injury insurance, the implementation of differential rates, all localities can continue to determine the extent of reduction according to the accumulated balance of the fund, the policy extension to April 30 next year.
In general, after the implementation of the new social security rate reduction scheme, the social security payment burden of small and medium-sized enterprises will be greatly reduced. At the same time, employment will create better repayment. Especially in the basic endowment insurance, considering that the comparative proportion of many provinces is about 20%, it will be reduced to 16% in the future. The rate reduction is undoubtedly huge.