According to the Notice on Decreasing Social Insurance Fees of Enterprises by Stages issued by official website, State Taxation Administration of The People's Republic of China, since February 2020, all provinces, autonomous regions, municipalities directly under the Central Government (except Hubei Province) and Xinjiang Production and Construction Corps (hereinafter referred to as provinces) can exempt small and medium-sized enterprises from paying three social insurance unit fees according to the situation affected by the epidemic and their financial affordability, and the exemption period is no more than five months.
Extended data:
Relevant policies for reducing and exempting enterprise social security fees by stages in 2020;
1. Since February 2020, the contributions of three social insurance units, such as large enterprises and other insured units (excluding government agencies and institutions), can be levied by half, and the period of reduction or exemption does not exceed 3 months.
2. Since February 2020, Hubei Province can exempt all types of insured units (excluding institutions) from the payment of three social insurance units for a period of no more than 5 months.
3. Enterprises with serious difficulties in production and operation affected by the epidemic can apply for holdover of social insurance premiums. In principle, the holdover period shall not exceed 6 months, and the late payment fee shall be exempted during the holdover period.
4. In 2020, the central adjustment ratio of the basic old-age insurance fund for enterprise employees will be increased to 4%, and support for difficult areas will be increased.
State Taxation Administration of The People's Republic of China City, People's Republic of China (PRC)-Notice on the phased reduction and exemption of enterprise social insurance premiums