Shanghai provident fund minimum percentage

The minimum percentage of contribution to the Shanghai Provident Fund is 5%.

The minimum percentage of contribution to Shanghai's housing provident fund is 5%, and the respective contributions to the housing provident fund by the employee and the organization shall not be less than this percentage. Enterprises and individuals may choose the percentage of contribution, but must comply with the regulations and procedures. Contributions to the Housing Provident Fund are mandatory, while Supplementary Housing Provident Fund is not mandatory. The housing provident fund contribution is a legal obligation and a long-term housing security for the employees.

Provident fund contribution regulations:

1, the contribution base: usually the average monthly salary of the employee as the basis for payment;

2, the proportion of contribution: local regulations vary, generally between 5%-12%;

3, the upper and lower limits of the contribution: based on the local average salary level set, more than the upper limit will no longer be counted as part of the base of payment;

4, individual and unit contribution: the individual and unit contribution is a legal obligation, and long-term housing security. p>4, individual and unit payment: individual employees and units both **** the same payment, the same proportion or slightly different;

5, payment time: once a month, by the unit in the payroll withholding and payment.

In summary, the Shanghai Municipality stipulates that the minimum contribution ratio of housing provident fund is 5%, which applies to both individual employees and units. Although enterprises and individuals can choose the contribution ratio, they must comply with the relevant regulations and procedures, and the payment of housing provident fund is mandatory in nature as stipulated by the law, and it is a long-term housing protection measure for the employees.

Legal basis:

Shanghai Housing Provident Fund Regulations

Article 6

Employees have the obligation to contribute to the housing provident fund; units have the obligation to contribute to the housing provident fund for employees. Employees have the right to request their units to contribute to the housing fund for them, the right to inquire and withdraw the housing fund and apply for housing fund loans in accordance with the regulations, and the right to supervise the management of the housing fund; and the units of the employees have the right to inquire and finance the housing fund in accordance with the regulations.