New Provisions of Labor Law 202 1 Provident Fund

The new provisions of People's Republic of China (PRC) labor law 202 1 are as follows:

1, deposit ratio; The lower limit of the deposit ratio of housing provident fund for units and individuals is 5%, and the upper limit is 12%. The specific deposit ratio is chosen by units and individuals.

2. Deposit base; The deposit base of employees' individual housing provident fund is adjusted to the average monthly salary of employees for 20 19 years;

3. Reduce the deposit ratio or postpone payment; Units that have real difficulties in depositing housing provident fund may propose to our center to reduce the deposit ratio to below 5% or suspend the deposit of housing provident fund from July 2020 to 202 1, and then increase the deposit ratio or resume the deposit after the economic benefits of enterprises improve, and repay the housing provident fund during the suspension period;

4. Pay back the money. Due to the need of epidemic prevention and control, units that fail to apply for deposit registration and timely deposit housing provident fund shall pay back within 3 months after the measures for epidemic prevention and control are lifted. After the payment is completed, the month of payment is regarded as continuous payment. Voluntary deposit personnel can refer to the implementation.

Housing accumulation fund refers to the long-term housing savings of state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units, social organizations and their employees.

Housing accumulation fund is not social security, but it is also an important welfare. Allow us to apply for preferential housing loans, buy houses, rent houses, etc. The labor law clearly stipulates that companies must pay social insurance for employees. Provident fund was not compulsory before, but in the new regulation of provident fund management of 202 1, provident fund was also listed as the scope of compulsory payment.

Article 37 of the Labor Law of People's Republic of China (PRC), in violation of the provisions of these regulations, if the unit fails to register the deposit of housing provident fund or fails to handle the procedures for the establishment of housing provident fund accounts for employees, the housing provident fund management center shall order it to be handled within a time limit; Failing to handle it within the time limit, a fine of 6.5438+0 million yuan and 50,000 yuan shall be imposed.