How to calculate the late payment fee for social security in Xiamen

A late fee of five ten thousandths will be added every day. 1-The late payment fee for March is calculated from March, and the late payment fee for March is calculated from May. According to Article 86 of Chapter XI of People's Republic of China (PRC) Social Insurance Law, if an employer fails to pay social insurance premiums in full and on time, the social insurance premium collection agency shall order it to pay within a time limit or make up for it, and from the date of default, an overdue fine of 0.5% shall be charged on a daily basis. Failing to pay within the time limit, the relevant administrative departments shall impose a fine of more than one time and less than three times the amount owed.

Legal objectivity:

Article 86 of "People's Republic of China (PRC) Social Insurance Law" * * * If the employer fails to pay the social insurance premium in full and on time, the social insurance premium collection agency shall order it to pay it within a time limit or make up for it, and from the date of default, an overdue fine of 0.5% shall be charged on a daily basis; Failing to pay within the time limit, the relevant administrative departments shall impose a fine of more than one time and less than three times the amount owed.