What does 60% contribution mean?

In China's social security system, the social security payment base is determined according to the average salary of individuals or enterprises in the previous year. If the average personal wage is lower than 60% of the average social wage in the previous year, then the social security payment base is set at 60% of the average social wage. For example, the average social wage in a certain area is 5,000 yuan per month, so the social security payment base is set at 60% of 5,000 yuan, which means that individuals or enterprises need to pay according to. Social security payment refers to the act of participating in various social security insurance and paying premiums. In China, social insurance is an important part of the social security system, occupying a core position in the whole social security system. Social security payment includes two parts: unit payment part and individual payment part.