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Social security coefficient
Legal analysis: social security base refers to the social insurance payment base of employees in a social security year. It is determined according to the average monthly wage income of employees from June 1 day to February 1 day in the previous year. The social insurance payment base is an important basis for calculating the social insurance premiums and social insurance benefits paid by employers and their employees. There are upper and lower limits, depending on the actual situation in each region.
Legal basis: Social Insurance Law of People's Republic of China (PRC) Article 1 This Law is formulated in accordance with the Constitution in order to standardize the social insurance relationship, safeguard the legitimate rights and interests of citizens to participate in social insurance and enjoy social insurance benefits, enable citizens to enjoy the fruits of development and promote social harmony and stability.
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