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Social insurance rates are continually reduced
According to the "Notice of the General Office of the Ministry of Human Resources and Social Security, the General Office of the Ministry of Finance and the General Office of the State Administration of Taxation on Issues Concerning Social Insurance Payments in 2021" (Ren She Ting Fa [2021] No. 2), with the approval of the municipal government, On the premise of ensuring that the various social insurance benefits of employees are not affected and paid on time and in full, Shanghai continue to gradually reduce the unemployment insurance and work-related injury insurance rates.
1. Continue to gradually reduce unemployment insurance rates
From May 1, 2021 to April 30, 2022, the city’s unemployment insurance will continue to implement a 1% contribution rate, of which the unit’s contribution rate is 0.5% and the individual’s contribution rate is 0.5%.
2. Continue to gradually reduce work-related injury insurance rates
From May 1, 2021 to April 30, 2022, the city’s benchmark rates for work-related injury insurance for employers in the first to eight categories of industries in this city will continue to be adjusted up and down by 20% on the basis of the industry benchmark rates prescribed by the state.
When the social insurance agency assesses the floating rate of the employer in accordance with the regulations, it shall be implemented in accordance with the adjusted industry benchmark rate.
3. This notice will be implemented from May 1, 2021, and will be valid until April 30, 2022.
From: General Office of the Ministry of Human Resources and Social Security
General Office of the Ministry of Finance
General Office of the State Administration of Taxation