17 March 2020
Guangdong Reduces Social Insurance Burdens on Enterprises
Guangdong plans to introduce a series of measures for reducing burdens on enterprises, including:
- Provisional reductions and exemptions on the endowment, unemployment and work-related injury insurance premiums borne by enterprises
Enterprises that have completed insurance premium payment registration, individually-owned businesses that are insured as entities, various types of social organisations and private non-enterprise entities will benefit from this policy.
- Provisional halving of employee basic medical insurance contributions
Between February and June 2020, places where employee medical insurance funds have an accumulated value sufficient to pay contributions for more than six months are eligible for a 50% reduction in employer contributions.
Full details can be found in Opinions on the Implementation of Provisional Reduction and Exemption of Social Insurance Premiums Borne by Enterprises (Yue Ren She Fa No. 58 ), issued jointly by the Department of Human Resources and Social Security of Guangdong Province, the Healthcare Security Administration of Guangdong Province, the Department of Finance of Guangdong Province and the Guangdong Provincial Tax Service of the State Taxation Administration.
Source: Department of Human Resources and Social Security of Guangdong Province