Can the late payment fee for old-age insurance be exempted?

Legal analysis: Whether the late payment fee for old-age insurance can be reduced or exempted must be formulated according to the local social security policy. If it can be reduced, the social security agency will send a notice.

In addition, there is another way to avoid paying the late payment fee according to law, that is, to apply to the social security department for deferring the social insurance premium borne by the enterprise. If approved, the late payment fee can be exempted.

Legal basis: Detailed Rules for the Implementation of the Social Insurance Law

Article 21 If an employer encounters serious difficulties in production and operation due to force majeure, it may, with the approval of the social insurance administrative department of the provincial people's government, postpone the payment of social insurance premiums for a certain period of time, generally not exceeding one year. During the suspension of payment, the late payment fee will be exempted. After the expiration, the employer shall pay the corresponding social insurance premium.

Article 22 If an employer provides a guarantee in accordance with Article 63 of the Social Insurance Law and signs a holdover agreement with the social insurance fee collection agency, the late payment fee shall be exempted during the holdover period. Therefore, the payment of endowment insurance should be paid on time. If you don't pay on time, and you don't apply to the social security department for deferred payment and provide guarantee, you will be charged a late fee.