What is social security double base how to calculate

Hello!

The double base of pension insurance is the unit contribution base and the employee contribution base. That is, the unit contribution is based on the unit contribution base * unit contribution ratio of 20%, and the employee contribution is based on the employee contribution base * personal contribution ratio of 8%. The individual 8% is all credited to the individual account of the pension insurance, and 20% of the unit goes into the integrated fund.

The employee contribution base is required to be declared in accordance with the employee's actual average monthly wage income in the previous year, and if it is lower than 60% of the average provincial wage in the previous year, it is declared at 60% of the average provincial wage in the previous year.

If the per capita salary income of employees in the previous year is low, and all of them calculate the unit contribution according to the employee contribution base, the unit will be overburdened, so it can be based on the unit's actual employee's gross salary in the previous year to determine the unit's contribution base.

And the lowering of the unit contribution base does not affect the employee's pension insurance personal account, so it will not affect the employee's pension.

If the wages of all employees in a unit in the previous year exceeded 60 percent of the average provincial wage in the previous year, the unit contribution base and the employee contribution base are the same.

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