How much does Shenzhen social security pay for individuals and companies?

Individuals need to bear part of the expenses of endowment insurance, medical insurance and unemployment insurance, while companies need to bear a larger proportion of expenses, including endowment insurance, medical insurance, unemployment insurance, work injury insurance and maternity insurance.

First, the individual payment part.

In Shenzhen, personal social security contributions mainly include endowment insurance, medical insurance and unemployment insurance. The specific ratio is as follows:

Endowment insurance: individuals need to pay a certain proportion of wages, which will be adjusted according to the policy. Endowment insurance is an important system to ensure the basic life of employees after retirement, and individual payment is a necessary condition for participating in endowment insurance.

Medical insurance: individuals also need to pay a certain percentage of medical insurance premiums to pay medical expenses. The existence of medical insurance can effectively reduce the economic pressure of individuals facing medical expenses.

Unemployment insurance: individuals also need to pay unemployment insurance premiums to cope with possible unemployment risks. Unemployment insurance can provide certain living security and help the unemployed tide over the difficulties.

Second, the company pays part

In addition to individual contributions, the company also needs to bear the responsibility of social security contributions. In Shenzhen, companies need to pay endowment insurance, medical insurance, unemployment insurance, work injury insurance and maternity insurance for employees. The specific ratio is as follows:

Endowment insurance: companies need to pay a certain proportion of employees' wages, which is usually higher than the proportion of individual contributions.

Medical insurance: the company also needs to pay medical insurance fees for employees to ensure that employees can get timely treatment when they are sick or injured.

Unemployment insurance: the company also needs to pay unemployment insurance premiums to provide unemployment protection for employees.

Work-related injury insurance: Work-related injury insurance is a special protection provided by the company for employees, which is used to pay medical expenses and disability compensation caused by accidents at work.

Maternity insurance: the company also needs to pay maternity insurance fees for female employees to protect their rights and interests during childbirth.

To sum up:

In Shenzhen social security payment, the proportion that individuals and companies have to bear varies according to social security projects and policies. Individuals mainly bear part of the expenses of endowment insurance, medical insurance and unemployment insurance, while companies need to bear a larger proportion of expenses, including endowment insurance, medical insurance, unemployment insurance, work injury insurance and maternity insurance. This payment mechanism not only reflects the individual's responsibility and obligation in social security, but also reflects the company's concern and investment in employee welfare.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 10 stipulates:

Employees should participate in basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance. Employers and employees shall pay basic old-age insurance, basic medical insurance and unemployment insurance in accordance with state regulations, and individuals shall not pay work-related injury insurance and maternity insurance.

Regulations of Shenzhen Special Economic Zone on Social Endowment Insurance

Article 9 provides that:

Employees pay basic old-age insurance premiums on a monthly basis. The base of employees' payment is the total average monthly salary of the previous year, and the upper and lower limits of the base of monthly payment are determined to be 300% and 60% of the average monthly salary of employees in this city in the previous year respectively. The employer shall pay the basic old-age insurance premium at 13% of the employee payment base every month and record it in the basic old-age insurance pooling fund; Employees pay the basic old-age insurance premium at 8% of their base monthly, which is credited to their personal accounts.