What is the cost of social security payment?

Payment amount = the average social wage of the previous year at the time of payment * (the annual payment wage base should be added with% of the average social wage) ×× payment ratio× payment coefficient.

Among them, the payment ratio is implemented according to the current enterprise payment ratio, that is, 28%, 20% for enterprises and 8% for individuals. The starting point of the repayment coefficient is 1. 1, and the coefficient increases by 0. 1 every year before the repayment year, and is calculated year by year.

And if it exceeds one year, there will be a late fee. Interest is only for endowment insurance.