Shanghai social security and provident fund payment standard

The minimum deposit ratio of units and employees is not less than 5%, and in principle it is not higher than 12% (the total deposit ratio is 10% to 24%), and the specific standards are determined by local governments according to actual conditions. In other words, there is only a minimum deposit ratio of housing provident fund, which is not capped. However, the Notice of State Taxation Administration of The People's Republic of China of the Ministry of Finance on Individual Income Tax Policies for Basic Endowment Insurance, Basic Medical Insurance, Unemployment Insurance and Housing Provident Fund (Caishui [2006] 10) stipulates that the housing provident fund actually paid by units and individuals is allowed to be deducted from the personal taxable income within the range of the average monthly salary of employees in the previous year 12%. The part of the housing provident fund paid by units and individuals that exceeds the above-mentioned prescribed proportion shall be incorporated into the income from personal current wages and salaries, and personal income tax shall be levied.

In other words, the part that the unit pays for the individual or the individual pays more than 12% will be included in the individual's salary income, and the individual income tax will be paid according to the regulations. For example, at present, the contribution ratio of ordinary provident fund in Shanghai is 7% of the total wages paid by employees and enterprises, and if there is supplementary provident fund, the proportion is 8% of the total wages. When the two items are added together, the maximum amount of one-way deposit is 15%. If the part within 12% is tax-free, then the part exceeding 3% needs to pay personal income tax.

It should be pointed out that according to the Regulations on the Management of Housing Provident Fund, units that have real difficulties in paying housing provident fund can reduce the proportion of payment or delay payment after discussion and approval by the workers' congress or trade union of the unit, review by the housing provident fund management center and approval by the housing provident fund management Committee; After the economic benefits of the unit improve, the deposit ratio will be increased or the overdue payment will be postponed.

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