How to calculate the late payment fee for employee social security

How to calculate the late payment fee for employee social security

Employees' social security late payment fee is based on the provisions of People's Republic of China (PRC) Social Insurance Law (hereinafter referred to as Social Insurance Law). If the employer fails to pay the social insurance premium in full and on time, the overdue fine shall be calculated at 0.05% of the overdue amount.

The specific calculation formula is: late payment fee = overdue amount × 0.05% × overdue months. Among them, the number of overdue months is from the month when the employer fails to pay the social insurance premium in full and on time to the month when the social insurance premium is actually paid.

For example, if the employer fails to pay the social insurance premium in full and on time, resulting in three months' arrears, the overdue fine to be paid is: overdue fine = overdue amount × 0.05% × 3 months.

It should be noted that the starting point for calculating the employee's social security late payment fee is the month when the employer fails to pay the social insurance premium in full and on time, not the month when the employee is in arrears. In other words, if the employer has paid the social insurance premium in full and on time in the month of arrears, there is no need to pay the late payment fee.

To sum up, according to the provisions of the Social Insurance Law, employees' social security late payment fees are caused by employers' failure to pay social insurance premiums in full and on time. The calculation formula of overdue fine is: overdue fine = overdue amount × 0.05% × overdue months. It should be noted that the starting point for calculating the late payment fee is the month when the employer fails to pay the social insurance premium in full and on time.

Legal basis:

Article 60 of the Social Insurance Law of People's Republic of China (PRC) stipulates: "The employer shall declare on its own and pay social insurance premiums in full and on time, and shall not postpone or reduce the payment except for legal reasons such as force majeure. The social insurance premiums that employees should pay shall be withheld and remitted by the employer, and the employer shall inform me of the details of paying social insurance premiums on a monthly basis. "

Article 63 of the Social Insurance Law of People's Republic of China (PRC) stipulates: "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 to seal up, detain or auction the property whose value is equivalent to the social insurance premium that should be paid, and use the auction proceeds to offset the social insurance premium. "