Accessibility Links

Shenzhen Expats Service

Social Insurance, Housing Fund, and Minimum Wage Adjusted in Shenzhen

Social Insurance Service Hotline:86-755-82143512,Email:tannet-solution@hotmail.com

Foreign-investors doing business in the Shenzhen area should be aware of three important changes made by the respective local government bureaus on social insurance, housing fund, and minimum wage – all of which are effective from 1st July 2013.

Shenzhen City’s Social Insurance Contribution Base Adjustment

The Shenzhen City government provided a Social Insurance Program adjustments for 2013, both employers and employees must make mandatory contributions to the five social insurances (pension, medical, unemployment, work injury, maternity) if the employee’s monthly wage is over RMB2,170. Employees with a salary over RMB14,407 should have their contributions calculated on that figure.

Housing Fund contribution cap adjustments

Shenzhen’s Housing Provident Fund Management Center released a circular, stating that the cap on housing fund contribution will be adjusted starting on July 1, 2013. The cap on housing fund increased to RMB15,400 from RMB14,407, while the social insurance cap still remains at RMB14,407.

Companies with employees earning monthly salaries between RMB14,407 and RMB15,400 should particularly take note of this increase in housing fund base cap so as to prevent incorrect payments.

For example, if an employee’s monthly wage is RMB15,000, his contribution base for social insurance will be calculated at a rate based on RMB14,407 and housing fund at a rate based on RMB15,000.

Greater Shenzhen Area Increased Standards for Minimum Wage

The Human Resource and Social Security Bureau of Shenzhen City set the monthly wage to a minimum of RMB1,530, which is around 11 percent increase from the original RMB1,370. This raise in minimum wage applies to all of the Greater Shenzhen Area including Shenzhen City, Shenzhen Industrial Park, Futian District, Shenzhen Qianhai.

Contact Us

If you have further queries, please don’t hesitate to contact Tannet anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net or or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020,Dongmen Rd South, Luohu , Shenzhen, China.

 




Share

Our Apps

Tannet is pleased to keep you posted anytime and anywhere. Therefore, we launched a series of mobile applications (Apps) for you. You can download our Apps via the following link or contact with us.
Download App

www.investhk.gov.hk Hong Kong