Is the overall amount the total social insurance premium?

Legal analysis: social security co-ordination refers to the unified collection and management of public institutions, and then use them. Social insurance is stipulated by the state to protect the life of retirees. The social security payment base is not equal to the total wages, but it is related to the total wages. The social insurance payment base, also known as the social insurance payment base, is the basis for the insured units and personnel to pay social insurance premiums. Social insurance payment base × payment ratio = social insurance premium payable. Total wages refer to the total amount of labor remuneration paid directly by each unit to all employees of the unit within a certain period of time. The total wages are composed of six parts: hourly wages, piece-rate wages, bonuses, allowances and subsidies, overtime wages and wages paid under special circumstances.

Legal basis: Article 11 of the Social Insurance Law of People's Republic of China (PRC) implements the combination of social pooling and individual accounts for basic old-age insurance. The basic old-age insurance fund consists of employers, individual contributions and government subsidies.

Article 12 The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of employees stipulated by the state and record it in the basic old-age insurance pooling fund. Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts. Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.