Late payment of social security, must pay late fees?

Late payment of social security as long as the period of time to make up without paying late fees, overdue payment need to pay late fees. Employers who do not pay the full amount of social security for employees in a timely manner need to pay late fees, calculated at five ten thousandths of a day.

Related legal basis:

Article 86 of the Social Insurance Law If an employer fails to pay the social insurance premiums in full and on time, the social insurance premium collection agency shall order the employer to pay the premiums within a certain period of time or to make up the full amount, and shall impose a late fee of five ten-thousandths of a cent per day on the unpaid premiums from the date of unpaid premiums; and if the employer fails to pay the premiums even after the expiration of the period of time, it will be subject to a fine of not less than double and not more than triple of the amount of the unpaid premiums from the relevant administrative department.

Social insurance

refers to a non-profit social security system with the function of redistribution of income, which the state has to prevent and compel the participation of the majority of the members of the society.

Social insurance (Social Insurance) is a social and economic system that provides income or compensation to the population for incapacity, temporary loss of work or loss of health. The social insurance program is organized by the government, which forces a certain group of people to pay a part of their income as social insurance tax (fee) to form a social insurance fund, from which the insured can receive a fixed amount of income or compensation for loss if certain conditions are met; it is a redistributive system, whose goal is to ensure the reproduction of material and labor force as well as the stability of the society. The main items of social insurance include pension insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance.