What does 60% social security penalty mean?

60% social security fine means that the proportion of social security fine is 60%, that is, when someone is fined for violating social security regulations, he can get 60% compensation from social security institutions.

This involves the payment base of endowment insurance. The minimum payment base of endowment insurance for enterprise employees shall not be lower than 60% of the social security level, and the maximum shall not be higher than 3 times of the social security level.

Detailed process of social security management:

1. First, ensure that the company is a regular business enterprise;

2. Go to the Labor and Social Security Bureau where the company is located for the record and get the company number;

3. New employees join the club and sign formal labor contracts with employees;

4. According to the different identities of employees (local town, local village, foreign town, foreign village, etc. ), prepare the materials needed to sign the contract, such as employment certificate, unemployment certificate, employment manual, etc. Some cities do not need these materials, please consult the local labor department for details;

5. Bring the above materials, filing roster, employment registration form and labor contract to the labor department for filing first;

6. Social security filing;

For the above two procedures, some cities can directly log on to the website of the Labor Bureau, and enterprises can register themselves.

7. Generally, starting from the next month, the insurance for the last month and the month of deduction will be paid;

8. In the next natural month after the payment is successful, apply for a social security card at the social security office, and the enrollment is completed.

To sum up, people who meet the application conditions can make an appointment by telephone at the application outlets or directly apply for social security cards (including student ID cards) at the street (town) social security card application service outlets. When applying, you need to bring your ID card, household registration book, application form (citizens with collective household registration need to bring the household registration certificate issued by the local police station or police station) and other related materials.

Legal basis:

Article 11 of the Social Insurance Law of People's Republic of China (PRC)

The basic old-age insurance combines social pooling with individual accounts.

The basic old-age insurance fund consists of employers, individual contributions and government subsidies.

Article 12

The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its employees stipulated by the state, and record it in the basic old-age insurance pooling fund.

Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.

Article 13

Before employees of state-owned enterprises and institutions participate in the basic old-age insurance, the basic old-age insurance premiums payable during the payment period shall be borne by the government.

When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.