Does paying taxes on wages mean deducting five insurances and one gold?

However, tax payment means that employees pay personal income tax after deducting five insurances and one gold from their wages and salaries, and then deducting social insurance premiums and housing accumulation funds that individuals should pay. Individual income tax shall be paid by taxpayers, and the units or individuals who pay the income shall be withholding agents.

1. How to handle five insurances and one gold?

"Five insurances" refers to five kinds of insurance, including endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance; "One gold" refers to the housing accumulation fund. Among them, old-age insurance, medical insurance and unemployment insurance are premiums paid jointly by enterprises and individuals, while industrial injury insurance and maternity insurance are entirely borne by enterprises. Individuals do not need to pay fees. It should be noted here that "five risks" are legal, but "one gold" is not.

(1) Handling information: if there is a work unit, it shall be handled by the unit, and the individual shall provide ID cards and photos;

(two) the old-age insurance and medical insurance can be transferred and taken away with the work;

(3) pension insurance transfer: find a new work unit, go to the original unit, and fill in the work unit according to the pension insurance transfer form. (It is best to go through the original transfer procedures) The social pension management department where the original unit is located shall sign and seal it, and the old-age insurance account shall be transferred and the original unit shall be reduced. Then go to the unit to stamp for approval, and go to the endowment insurance department where the unit is located to go through the formalities of accepting pension, and the unit will increase the number of people; After the transfer of endowment insurance, the unit also participated in endowment insurance for you. The two can be combined to calculate the payment period, go through retirement procedures, and the pension benefits will not be affected! The transfer of medical insurance is basically the same.

(4) Social insurance is generally paid monthly for intermediate unemployment, but it can also be postponed according to its own situation;

(5) See relevant policies for payment time.

2. Personal income tax collection method

In order to realize effective collection and management, the current personal income tax is mainly withheld and remitted, supplemented by taxpayers' self-declaration and tax payment. Article 8 of the Individual Income Tax Law stipulates that the income is the taxpayer and the unit or individual that pays the income is the withholding agent.

(a) the way of withholding tax collection

Withholding and remitting means that when a unit or individual with withholding obligation pays taxable income to an individual according to the provisions of the tax law, the taxable amount should be deducted from his income and turned over to the state treasury, and at the same time, the withholding and remitting personal income tax report form is submitted to the tax authorities. This method is conducive to controlling tax sources and preventing tax evasion.

(2) Self-declaration and taxation methods

Self-declaration of tax payment is a method for taxpayers to declare taxable income items and amounts to the tax authorities within the tax period stipulated in the tax law, fill in the personal income tax return form truthfully, and calculate the tax payable according to the tax law, so as to pay personal income tax accordingly.

Personal income tax is calculated according to the salary after deducting five insurances and one gold.

Taxable income = wage income-various social insurance premiums-threshold (5000 yuan)

Taxable amount = taxable income x tax rate-deduction amount

Note: If calculated by foreigners (including Hong Kong, Macao and Taiwan), the tax threshold should be set at 4,800 yuan.

According to the Individual Income Tax Law and the Regulations on the Implementation of Individual Income Tax in the State Council, after deducting the social insurance premium and housing accumulation fund that individuals should pay, after deducting the expenses of 5,000 yuan, the excessive progressive tax rate is applied to pay individual income tax.

Personal income tax payable by employees = taxable income × applicable tax rate-quick deduction = (monthly income after deducting three insurances and one gold-deduction standard) × applicable tax rate-quick deduction.

What is salary?

Wage refers to the labor remuneration paid to employees by employers or statutory employers in the form of money according to laws, industry regulations or agreements with employees. Salary can be calculated in different forms, such as hourly salary, monthly salary and annual salary. In China, the following expenses borne by employers or paid to employees are not wages:

(1) social insurance premium;

(2) Labor protection fee;

(3) Welfare expenses;

(4) One-time compensation fee paid when the labor relationship is terminated;

(five) family planning fees;

(six) other expenses that do not belong to wages. In political economy, wages are essentially the value or price of labor.

Wage is an important part of production cost. The legal minimum wage is called the minimum wage, and there are also various wage divisions such as pre-tax salary, after-tax salary and incentive salary. In political economy, capital is essentially the value or price of labor.

Legal basis:

Article 2 of the Individual Income Tax Law of People's Republic of China (PRC) stipulates that individual income tax shall be paid for the following personal income:

(1) Income from wages and salaries;

(2) Income from remuneration for labor services;

(3) Income from remuneration;

(4) Income from royalties;

(5) Operating income;

(6) Income from interest, dividends and bonuses;

(7) Income from property lease;

(8) Income from property transfer;

(9) Accidental income.

Individual residents who obtain income from items 1 to 4 of the preceding paragraph (hereinafter referred to as comprehensive income) shall calculate individual income tax according to the tax year; Non-resident individuals who obtain income from items 1 to 4 of the preceding paragraph shall calculate individual income tax on a monthly or itemized basis. Taxpayers who obtain income from items 5 to 9 of the preceding paragraph shall calculate individual income tax separately in accordance with the provisions of this law.