Social Security Late Payment Fee.

Delinquent payment of social insurance premiums will be subject to late payment charges in accordance with the law

(PRESS RELEASE)

The Social Insurance Law of the People's Republic of China (hereinafter referred to as the Social Insurance Law) came into effect on July 1, 2011, in order to further safeguard the rights and interests of employees and to regulate the behavior of employers in paying social insurance premiums in accordance with the law. In order to further safeguard the social insurance rights and interests of employees, regulate the behavior of employers in joining and paying insurance premiums, and reflect the mandatory and serious nature of paying social insurance premiums in accordance with the law, the Social Insurance Law explicitly stipulates that, for non-payment of social insurance premiums, the social insurance premium collection agency shall add a late fee of five ten thousandths of one percent to the employer on a daily basis.

According to the provisions of the Social Insurance Law and related supporting documents, the city has studied and introduced a specific method of levying late payment fees. The city's insured units should be from the 1st to the 15th of each month to the social insurance premium collection agency for participation in the declaration of contributions, and before the 24th of each month in accordance with the provisions of the full payment of social insurance premiums for the month, overdue payment, from the date of arrears in the payment of five ten thousandths of the late payment fees will be added on a daily basis. The social insurance premiums to be paid by employees shall be withheld and paid on behalf of the employer. If the employer fails to withhold and pay the premiums in accordance with the law, the social insurance premium collection agency shall order the employer to pay the premiums on behalf of the employer within a certain period of time, and shall impose a late fee of five ten-thousandths of one percent of the amount of social insurance premiums on the employer on a daily basis from the date of non-payment. The late payment fee shall be borne by the employer, and the employer shall not require the employee to bear it.

According to the regulations, the employer shall not reduce or waive the late payment fees levied by law for non-payment of social insurance premiums. Part of the force majeure caused by production and operation of serious difficulties, subject to the approval of the provincial people's government social insurance administrative department, according to the provisions of the late fee waiver.