New Social Security policy for March 1

The 2020 Social Security Reduction and Benefit Policy ends in December 2020. That is to say, the 2020 social security relief preferential policy is this time the new policy of enterprise social security exemption implementation period extended to the end of December. The state launched the 2020 social security reduction and exemption preferential policy mainly to alleviate the operating difficulties of enterprises, support the stabilization and expansion of employment, and promote enterprises to resume work and production more quickly.

Legal basis:

The Notice on Stage Reduction and Exemption of Social Insurance Premiums for Enterprises shows (except in Hubei Province) that, starting from February this year, according to the actual situation, small and medium-sized micro-enterprises will be exempted from the unit contribution portion of the three social insurances (old-age pension, unemployment and work-related injuries), and the exemption period will not be more than five months. For large enterprises or other units, the unit contribution portion of these three items can be reduced by half, although the period of reduction is shortened to no more than three months. Simply understood, micro, small and medium-sized enterprises in the February-June burden of old-age, unemployment and work-related injury insurance are all reduced. And large enterprises are February-April, reduced by half. And the end of May this year, it is again clear: exempt small and medium-sized enterprises, delayed until the end of this year (the first point in time).