Sources of social security funds

The sources of social security funds are as follows:

1, the insurance premium paid by the insured according to a certain proportion of his salary income (if the salary income cannot be determined according to the average salary of employees);

2. The insurance premium paid by the insured unit according to a certain proportion of the total wages of the employees of the unit;

3, the government's financial subsidies to social insurance funds;

4. Bank interest or return on investment from social insurance funds and social donations.

General social security payment base:

The social security payment base is generally based on my salary income in the previous year.

1. If the wage income of employees is higher than 300% of the local average wage of employees in the previous year, 300% of the local average wage of employees in the previous year will be the payment base;

2. If the wage income of employees is lower than 60% of the local average wage of employees in the previous year, 60% of the local average wage of employees in the previous year shall be the payment base;

3, the employee's salary is between 300% and 60%, according to the actual declaration. When it is impossible to determine the wage income of employees, the payment base shall be determined according to the local average wage of employees in the previous year published by the local labor administrative department.

To sum up, every year, social security will verify the base at a fixed time (March or July, in different places), and declare a new base according to the average monthly salary of employees in the previous year, and it is necessary to prepare a payroll.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 4

Employers and individuals in People's Republic of China (PRC) pay social insurance premiums according to law, and have the right to inquire about payment records and personal rights records, and require social insurance agencies to provide social insurance consultation and other related services.