Difference between 8% and 5% of social security in Guangzhou

The base of payment and the degree of benefit are different.

1. Different payment bases: 8% social insurance rate is applicable to people whose wages are equal to or higher than twice the average wage in Guangzhou, that is to say, they need to pay social insurance premium according to 8% of their wages, while 5% social insurance rate is applicable to people whose wages are lower than twice the average wage in Guangzhou, and they only need to pay social insurance premium according to 5% of their wages.

2. Different treatment: Those who pay 8% social insurance premium can enjoy higher social insurance benefits, including old-age insurance, medical insurance and unemployment insurance, while those who pay 5% social insurance premium can also enjoy basic social insurance benefits at low rates.