Is there a fine for the Social Security Bureau to renew the labor contract 50 days overdue?

After 50 days, the Social Security Bureau will be fined for renewing the labor contract.

According to the Labor Contract Law of People's Republic of China (PRC), if the employer fails to renew the labor contract with the employee on time, it shall pay the employee the economic compensation of one month's salary. Moreover, according to the provisions of the Social Insurance Law, if an employer fails to pay social insurance premiums on time, the social insurance agency may order it to pay within a time limit and impose a late fee on a daily basis. Therefore, if the labor contract is not renewed within 50 days, the employer may need to pay economic compensation to the workers and may be fined by the Social Security Bureau.