What does the annual social security report mean?

Annual declaration of social security means that before the start of the next settlement year, the employer calculates the monthly average wage income according to the total wage income of its employees in the previous year, and declares the annual payment base of all employees in this settlement unit to the relevant departments. The main purpose of the annual social security declaration is to plan the monthly payment amount. If the number of employees in this unit is increased in the reporting month, supplementary reporting is needed to make adjustments.