What does it mean to reduce social insurance premiums?

The reduction and exemption of social insurance premiums is the unit payment that the current enterprise is exempted from or halved from February to June. Small and medium-sized enterprises are exempted from the payment of enterprise units, and large enterprises pay half of the payment of enterprise social security units. Details are as follows:

1, according to the situation of domestic enterprises affected by the epidemic and the affordability of the fund, the basic old-age insurance, unemployment insurance and industrial injury insurance for small and medium-sized enterprises are exempted for a period of no more than 5 months;

2 for large enterprises and other insured units that are less affected by the epidemic or have strong affordability, the three social insurances will be halved for a maximum of three months;

3, all insured units in the province to implement three social insurance exemptions of not more than five months, except institutions;

4, affected by the epidemic caused serious difficulties in production and operation of enterprises can apply for holdover of social security fees, and do not charge late fees during the holdover period.

Article 4 of People's Republic of China (PRC) Social Insurance Law

Employers and individuals in People's Republic of China (PRC) pay social insurance premiums according to law, and have the right to inquire about payment records and personal rights records, and require social insurance agencies to provide social insurance consultation and other related services.

Individuals enjoy social insurance benefits according to law and have the right to supervise the payment of their own units.