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When will Shanghai's social security base start to adjust?
According to the relevant regulations, the base of individual contributions in that year should be approved according to the average monthly salary of employees in the previous year. The employing unit shall truthfully declare the average monthly wage income of employees in the previous year, which is used to determine the payment base of that year. Here, the average monthly wage income of employees in the previous year corresponds to the total wages paid to employees in the previous natural year, that is, from 1 to 12 in the previous year, averaging every month. Employees who worked for less than one year in the previous year shall be calculated according to the total wages divided by the actual working months. Items included in the statistics of total wages include hourly and piecework wages, bonuses, allowances and subsidies, overtime wages, wages paid under special circumstances, etc. The total wages are pre-tax wages, including personal income tax, social insurance, housing provident fund, occupational annuity and other parts that should be paid by individuals directly withheld from personal wages.
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