[每天懂点法]China Reduces Employer’s Social Insurance Contribution Rate

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China’s Human Resources and Social Security Bureau (HRSS) and the Ministry of Finance (MOF) have jointly announced the decision to reduce the employer’s social insurance contribution rate starting October 1, 2015.
Specifically, the employer’s contribution to employees’ maternity insurance will be reduced to less than 0.5 percent of the employees’ gross salary. Further, the contribution rate of occupational injury insurance is categorized into eight levels ranging from 0.2 percent to 1.9 percent of employees’ gross salary, based on different types of industries and companies. In China, both the employer and employees contribute to social welfare, but at different percentages. The amount of contribution in each social insurance category is calculated by utilizing the employee’s payment base figure and multiplying it by different percentages, as stipulated by the local government.

（by China Briefing）

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