What does it mean to cap social security late payments at 8000

What does Social Security late payment capped at 8,000 mean.

Social security late payment capped at 8000 means that when the employer fails to pay the social insurance premiums in full and on time, the social insurance premium collection agency will order the employer to pay the premiums or make up for them, and add a late payment fee on a daily basis from the date of arrears; however, there is a maximum limit for this fee, which will not be more than 8000 yuan. This is a kind of administrative coercive means to ensure the timely and full payment of social insurance premiums and safeguard the legitimate rights and interests of the insured. The collection of late fees is intended to motivate employers to comply with social insurance laws and regulations and to ensure that employees can normally enjoy social insurance benefits.

Social security contribution regulations:

1, the contribution base: social security contribution base usually refers to the employee's average monthly salary in the previous year;

2, the contribution ratio: different types of social security (such as pension insurance, medical insurance, etc.) have different contribution ratios, by the individual and the unit **** the same bear;

3, the time of payment: social security contributions are usually made monthly, and need to pay in full on time.

3. Payment time: Social security contributions are usually made monthly and need to be paid in full and on time;

4. Replacement policy: If you miss the payment time, you can make up for it according to the regulations;

5. Calculation of late payment: If you don't pay social security fees after the due date, you need to pay the late payment fee in accordance with the stipulated percentage.

In summary, the social security late payment cap of 8000 means that the employer must pay the social insurance premiums in full and on time, otherwise it will be ordered to pay or make up the full amount by the deadline, and add a late fee on a daily basis, but the late fee will not be more than 8000 yuan. This measure is aimed at protecting the legitimate rights and interests of the insured, prompting employers to comply with social insurance laws and regulations, and ensuring that employees can properly enjoy social insurance benefits.

Legal basis:

The Social Insurance Law of the People's Republic of China

Article 86

If an employer fails to pay the social insurance premiums in full and on time, the social insurance premium collection agency shall order the employer to pay the premiums by a certain date or to make up the full amount, and shall impose a late fee of five ten-thousandths of one percent of the amount of social insurance premiums on a daily basis from the date of non-payment; if the employer fails to pay the premiums after the due date, the administrative department shall impose a penalty of The amount of arrears of payment of double or triple the following fine.