In February, the China State Council decided to reduce or exempt corporate social insurance premiums for enterprises. The exemption was originally valid until the end of June 2020.
Recently, the State Council revised that decision and send out another notice, mentioning in particular two points:
- All provinces, autonomous regions, and municipalities directly under the Central Government have extended the exemption of the payment of the social insurance premiums until the end of December 2020;
- Enterprises that have serious difficulties in production and operation because affected by the epidemic situation, may continue to postpone the payment of social insurance premiums until the end of December 2020 and will be exempt from late fees during the postponement period.
Recently the Shanghai Municipal Government released more information regarding the extension of the period of implementation of the three social insurance premium policies for enterprises in phased relief.
The social insurance premiums involved are:
- Pension
- Unemployment
- Work-related injuries
You can check the details in the table below.
| Enterprise Type | Relief Type | Execution Period |
Medium, small and micro enterprises | Exemption | Extended to December 2020 |
Large enterprises and others (including private non-enterprise units, social organizations, and other social organizations) | Halving | Extended to December 2020 |