In Shanghai, social security benefits are reduced by half for 1 year if you are 45 years old.

That is the year 2020.

Shanghai's reduction and exemption policy for small, medium and micro enterprises. From February 2020 to June 2020, Shanghai social security is exempted from basic pension insurance, unemployment insurance, work-related injury insurance, and the unit payment portion of the three social insurances; at the same time, from February to June 2020,

Employee medical insurance and maternity unit contributions will be halved (from 10.5% to 5.25%).

Shanghai has extended the implementation period of the policy of phased reduction and exemption of corporate social insurance premiums, and extended the partial reduction and exemption for pension, work-related injury, and unemployment units until December 2020.

Now participating in the insurance means reducing the social security fee.

Social security expenses from July to December will increase slightly compared with February to June. The difference is that the proportion of medical insurance in Shanghai has recovered from 4.75% to 9%; the proportion of maternity insurance has recovered from 0.5% to 1%.

The company handles social security for its employees as follows: 1. Open a social security account. The company needs to go to the Social Security Bureau to open a social security account within 30 days from the date of establishment.

After opening a social security account, you will get a "Social Security Registration Certificate".

2. To increase or decrease employees, the company must add new employees to the company's social security account every month, and delete employees who have resigned from the account.

The social security account is an independent account, and operations of adding or removing employees must be performed in the account.

3. Confirm the payment base. The unit needs to declare the correct social security payment base for employees every month to ensure the normal payment of social security.

The social security payment base is based on the employee's average salary in the previous year or the first month's salary.

4. Social security payment. If the enterprise, bank, and social security management agency sign a bank payment agreement, the social security fee will be directly deducted from the enterprise's bank account at a fixed time every month.

Of course, companies can also choose to pay on-site at the Social Security Bureau via cash or check.

Legal basis: Article 64 of the "Social Insurance Law of the People's Republic of China" Social insurance funds include basic pension insurance funds, basic medical insurance funds, work-related injury insurance funds, unemployment insurance funds and maternity insurance funds.

Except for the basic medical insurance fund and the maternity insurance fund, which are jointly established and accounted for, other social insurance funds are accounted for and accounted for separately according to the types of social insurance insurance.

Social insurance funds implement the unified national accounting system.

Social insurance funds are earmarked for exclusive use and may not be misappropriated or misappropriated by any organization or individual.

Basic pension insurance funds will gradually implement national pooling, and other social insurance funds will gradually implement provincial pooling. The specific time and steps will be stipulated by the State Council.

Article 65: The social insurance fund shall achieve balance between revenue and expenditure through the budget.

People's governments at or above the county level will provide subsidies when social insurance funds are insufficient to pay.

Article 66: Social insurance funds shall establish budgets according to the overall planning level.

Except for the basic medical insurance fund and maternity insurance fund budgets, which are compiled together, other social insurance fund budgets are prepared separately according to social insurance items.

Article 67 The preparation, review and approval of draft social insurance fund budgets and final accounts shall be carried out in accordance with laws and regulations of the State Council.