Suzhou Park Provident Fund Contribution Base

The upper limit of the provident fund contribution base in Suzhou Park is RMB 27,137 and the lower limit is RMB 4,523.

1, the upper limit of the provident fund contribution base in Suzhou Industrial Park is 27,137 yuan;

2, the lower limit of the provident fund contribution base is 4,523 yuan;

3, the proportion of individual employee's contribution is 12 percent;

4, the proportion of unit's contribution is 8 percent;

5, the individual under the highest base contributes 3,256.44 yuan per month;

6, the highest base under the unit to pay 2170.96 yuan per month;

7, the lowest base under the individual to pay 542.76 yuan per month;

8, the lowest base under the unit to pay 361.84 yuan per month.

Rules for the use of provident fund:

1. When buying a first home, you can use the balance in your provident fund account to make a down payment or repay the principal and interest of a loan;

2. When renting a home, some regions allow you to use the balance in your provident fund account to pay for the rent;

3. When repaying the principal and interest of a commercial personal housing loan, you can apply for use of the balance in your provident fund account

4. CPF account holders can withdraw the balance in their CPF accounts when they retire or become totally incapacitated.

In summary, the contribution base of SIP's provident fund ranges from RMB 4,523 to RMB 27,137, with an individual contribution rate of 12% and a unit contribution rate of 8%, resulting in individual and unit contributions of RMB 3,256.44 and RMB 2,170.96 per month, respectively, under the highest base, and RMB 542.76 and RMB 361.84 per month, respectively, under the lowest base.

Legal basis:

Notice on carrying out the 2020 annual adjustment of the housing accumulation fund in Suzhou City

I

Park social insurance (provident fund) various types of comprehensive social security plan monthly contribution base upper and lower limit standards are as follows:

1, Category A comprehensive social security plan monthly contribution base upper and lower limit standard The upper and lower limits of the monthly contribution base for Category A Comprehensive Social Security Plan are RMB 26,400 and RMB 3,368 respectively; 2. The upper and lower limits of the monthly contribution base for Category B Comprehensive Social Security Plan are RMB 19,335 and RMB 3,368 respectively.

Two

Park housing provident fund monthly contribution base upper and lower limit standards for 26400 yuan, 3368 yuan respectively.

Three

The above standards will be implemented from July 1, 2020 onwards.