News & Policies
The change related to social welfare payment
According to Shanghai municipal Tax bureau, Finance bureau, Labor bureau and People’s bank of China, in order to meet the needs of the reform of the national social insurance premium collection and management system, ensure the smooth development of social insurance collection and business management, and protect the social insurance rights and interests of payers, hereby the related governments announce the following matters concerning the payment time of social insurance premiums paid by participating units in this city on a monthly basis.
1. According to the relevant regulations on the settlement of social insurance premium funds, the premium paid by the insured unit before 20 o’clock on the last second working day of each month can be transferred to the national treasury within the current month. In case of special circumstances requiring temporary adjustment, the latest notice shall prevail.
2. If the social insurance premium paid by the insured unit is transferred to the national treasury within the current month, the social insurance agency shall handle it in accordance with the accounting rules of the month of payment, and the overdue period will affect the personal social insurance rights and interests record.
3. This notice shall come into effect on September 1, 2021.
State Administration of Taxation Shanghai Municipal Taxation Bureau
Shanghai Municipal Finance Bureau
Shanghai Municipal Human Resources and Social Security Bureau
Shanghai Medical Security Bureau
People’s Bank of China Shanghai Branch