Calculation formula of social security late payment fee

Legal analysis: calculation method: the total payment of all kinds of insurance * overdue days * five ten thousandths, the days are counted from the second day of the following month, social security 1.2.3 months are paid in April, and the overdue days of 1 month are counted from March 2, and the overdue days of February are counted from April 2, and there is no overdue payment in March. In the actual implementation process, the collection of late fees is generally aimed at the insured units that fail to pay the fees on time. For the individual insured, if the payment is not made on time, there is generally no late payment fee, but if the cross-year arrears are overdue, the late payment fee must be paid.

Legal basis: Article 63 of People's Republic of China (PRC) Social Insurance Law. If the employer fails to pay social insurance premiums in full and on time, the social insurance premium collection agency shall order it to pay or make up within a time limit. If the employer fails to pay or repay the social insurance premium within the time limit, the social insurance premium collection agency may inquire about its deposit account in banks and other financial institutions; And can apply to the relevant administrative departments at or above the county level to make a decision on the allocation of social insurance premiums, and notify their bank or other financial institutions in writing to allocate social insurance premiums. If the balance of the employer's account is less than the social insurance premium that should be paid, the social insurance premium collection agency may require the employer to provide guarantee and sign a deferred payment agreement. If the employer fails to pay the social insurance premium in full and fails to provide guarantee, the social insurance premium collection agency may apply to the people's court for sealing up, distraining and auctioning the property whose value is equivalent to the social insurance premium that should be paid, and the proceeds from the auction will be used to offset the social insurance premium.