Hangzhou social security payment base in 2024

The specific payment base is announced by Hangzhou Human Resources and Social Security Bureau at the beginning of each year to guide enterprises and individuals to pay social security.

First, the determinants of social security payment base

The determination of social security payment base in Hangzhou is influenced by many factors. First of all, local economic development is an important basis for formulating the payment base. With the economic growth and changes, the social security payment base will be adjusted accordingly to meet the needs of economic development. Secondly, the wage level of employees is also an important factor affecting the base of social security contributions. Generally speaking, the higher the wage level, the higher the social security contribution base will be. Finally, the income and expenditure of the social security fund will also have an impact on the determination of the payment base. If the income of social security fund is sufficient, the payment base can be appropriately reduced to reduce the burden on enterprises and individuals; On the other hand, if the income and expenditure of the social security fund are tight, the payment base can be appropriately increased to ensure the normal operation of the social security system.

Two, Hangzhou social security payment base announced and adjusted.

At the beginning of each year, Hangzhou Human Resources and Social Security Bureau will work out the social security payment base for that year according to the above factors and the actual situation. This base will be announced in official channels for enterprises and individuals to understand and pay fees according to regulations. At the same time, with the development of economy and the change of wage level, the social security payment base will be adjusted in time. This adjustment aims at maintaining the fairness and sustainability of the social security system and ensuring the stable operation of the social security fund.

Third, the responsibility of individuals and enterprises to pay.

In Hangzhou, individuals and enterprises need to pay according to the prescribed social security payment base. Personal contributions are usually deducted from wages, and enterprises need to pay the corresponding social security fees for employees in accordance with the prescribed proportion. These expenses will be used to pay various social security benefits, such as old-age insurance, medical insurance and unemployment insurance.

To sum up:

The social security payment base of Hangzhou in 2024 is determined according to the local economic development, the wage level of employees and the income and expenditure of social security funds, and it is announced by Hangzhou Human Resources and Social Security Bureau at the beginning of each year. Individuals and enterprises need to pay according to the prescribed payment base to ensure the normal operation of the social security system and the payment of various benefits.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 12 stipulates:

The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its 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.