Chinese Human Resources and Social Security Regulations
The report on the work of the government published in the Two Sessions(annual sessions of National People’s Congress and the National Committee of the Chinese People’s Political Consultative Conference) stressed that the China government will give priority to stabilizing employment and ensuring living standards, with the report unveiling detailed targets, policies, and measures.
Pursuant to the previous notice announced by the ministry of HR & SC on Feb 20th regarding the Reduce the SI of employer regarding Pension, Unemployment insurance and Injury insurance for the Enterprises registered outside of Hubei Province.
SI type | Employer contribution rate in Shanghai |
Pension | 16.00% |
Unemployment insurance | 0.50% |
Injury insurance | 0.16% - 1.52% |
For the company registered other cities outside Hubei province
- From February to June 2020, the above three fees can be exempted for the small low profit and medium enterprises;
- From February to April 2020, the above three fees can be halved for the large companies.
According to the National People's Congress hosted by Prime Minister Li Keqiang on May 22nd, it is announced that the exemption of the SI of employer regarding Pension, Unemployment insurance and Injury insurance for the small low profit and medium enterprises will be extended to the end of Year 2020.