Local policies on social insurance exemption
Many local governments began implementing specific measures following the state policy. The details below will guide you through the new social insurance policy and how much you can save from the government’s exemption.
All cities in Hubei province
Social insurance premiums
As mentioned, the exemption period is from February to June 2020. Furthermore, social insurance payments can be deferred from July 1 to December 31, 2020. Enterprises can pay back the fund within 3 months after the end of the epidemic control and prevention in this area.
Payment on housing
The specific measures can be inquired through the official website of the Ministry of Housing and Urban Rural Development of each city.
Medical insurance
If the government has sufficient medical insurance funds during the 6 months of the deferred payment period, the enterprise will be able to apply for the reduction of its medical insurance by 50%.
Other cities
Social insurance premiums
The reduced social rates vary for each city or province. For example, in Beijing, the pension rate is reduced from 16% to 8% while the unemployment insurance is adjusted from 0.8% to 0.4% from February to April 2020. Furthermore, the work-related injury insurance is cut by half the current rate for the same period. These rates apply to large enterprises in Beijing. On the other hand, small and medium-sized enterprises are exempted from paying these three kinds of social insurances.
Enterprises are advised to call 12333 hotline to get the more specific implementation for respective cities or provinces.
Payment on housing
The deferred payment period for most cities started from February to June or before June 30. However, some cities like Tianjin, Jiangxi, and Sichuan started from January to June. On the other hand, Hainan extended its period from January to July.
Meanwhile, Shanxi specified its deferred payment period from January to 3 months after the epidemic. For loans with a time limit, payment is extended to two months after the epidemic and there will be no penalty or overdue payments to be made.
Medical insurance
Medical insurance including maternity in most cities can be reduced by half depending on the sufficiency of government funds during the 6 months deferred payment period.
