What is the minimum social security accumulation fund base in Shenzhen?

When establishing labor relations with employees, employers need to pay social security and housing accumulation fund for employees according to law. According to the law, the employer shall pay social security and housing accumulation fund for employees according to their average monthly salary in the previous year. In practice, employers usually consider the issue of cost and determine different payment bases according to employees' positions and working years.

Interim Measures of Shenzhen Municipality on the Administration of Housing Provident Fund

Sixteenth housing provident fund deposit base for the average monthly salary of employees in the previous year. New employees begin to pay housing provident fund from the second month of their employment, and the base of housing provident fund payment is the employee's salary for that month. The newly transferred employees shall pay the housing provident fund from the date when the transferred units pay wages, and the deposit base of the housing provident fund is the employee's monthly salary. Units shall truthfully declare the deposit base of individual employees.

Regulations on the administration of housing provident fund

Article 15

Units employing employees shall, within 30 days from the date of employment, go to the housing provident fund management center for deposit registration, and go to the entrusted bank for the establishment or transfer of employee housing provident fund accounts with the audit documents of the housing provident fund management center.

Where the unit terminates the labor relationship with the employee, the unit shall, within 30 days from the date of termination of the labor relationship, go to the housing provident fund management center to register the change, and go to the entrusted bank to handle the transfer or sealing procedures of the employee housing provident fund account with the audit documents of the housing provident fund management center.

Article 16

The monthly deposit amount of employee housing provident fund is the average monthly salary of the employee in the previous year multiplied by the deposit ratio of employee housing provident fund.

The monthly deposit amount of housing provident fund paid by the unit for employees is the average monthly salary of employees in the previous year multiplied by the proportion of housing provident fund paid by the unit.

Article 17

The new employee starts to pay the housing provident fund from the second month after joining the work, and the monthly payment amount is the employee's own salary multiplied by the employee's housing provident fund payment ratio.

The newly transferred employees of the unit shall pay the housing provident fund from the date when the transferred employees pay their wages, and the monthly deposit amount shall be the employee's monthly salary multiplied by the employee's housing provident fund deposit ratio.

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