What do the upper and lower limits of social security contributions mean?

Legal analysis: the upper and lower limits of the social insurance base: the upper limit of the payment base means that the part of the employee's wage income exceeding 300% of the arithmetic average of the monthly average wage of employees in provinces and cities in the previous year is not included in the payment base; The lower limit of the payment base refers to the fact that the wage income of employees is lower than 60% of the arithmetic average of the monthly average wage of employees in provinces and cities in the previous year, and 60% of the arithmetic average of the monthly average wage of employees in provinces and cities in the previous year is the payment base.

Legal basis: Provisional Regulations on the Collection and Payment of Social Insurance Fees.

Article 1 These Regulations are formulated in order to strengthen and standardize the collection and payment of social insurance premiums and ensure the payment of social insurance premiums.

Article 2 These Regulations shall apply to the collection and payment of basic old-age insurance premiums, basic medical insurance premiums and unemployment insurance premiums (hereinafter referred to as social insurance premiums).

The units and payers mentioned in these Regulations refer to the units and individuals that should pay social insurance premiums in accordance with relevant laws, administrative regulations and the provisions of the State Council.