Transformation of social security foundation

The calculation method of social security base is: if the salary is lower than the minimum social security base, it will be paid according to the minimum base. If it is higher than the lower limit, it will be paid according to the actual average annual salary of the previous year. The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its employees stipulated by the state, and record it in the basic old-age insurance pooling fund. Article 12 of the Social Insurance Law of People's Republic of China (PRC) * * * The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of employees stipulated by the state and record it in the basic old-age insurance pooling fund. Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.