Social security fund is the abbreviation of social labor security fund, also referred to as "social security fund". It is co-ordinated by the state and local social labor security bureaus, and is mainly used for social security and social welfare of workers who participate in social security. It is a "pension" that provides the most basic guarantee for the future life of the insured and a "life-saving money" for the rescue or treatment of future life accidents.

social security funds are invested and increased by the relevant national and local administrative departments according to the operating procedures permitted by the regulations, that is, they are converted into investment funds, also known as "social security funds". Social security funds are different from social security funds, and social security funds come from social security funds.

For individual employees, the base of social security payment is determined:

It is determined according to 3% and 6% of the published average monthly salary of employees in the whole city last year.

if the average monthly salary of employees is lower than 6% of the average monthly salary of employees in the previous year, the lower limit will be used as the payment base; if it is higher, the upper limit will be used as the payment base.

for individuals who participate in social security for flexible employees, according to relevant regulations, individual industrial and commercial households and flexible employees who participate in the basic old-age insurance for employees in urban enterprises can choose to pay 4% to 3% of the average monthly salary of employees in the whole province last year as the payment base and pay the basic old-age insurance premium at a rate of 2% according to their own income. The insured can pay monthly and quarterly, and also pay monthly and yearly.

before the average wage of employees in urban units in the province in the previous year was announced, individual industrial and commercial households and flexible employees paid the endowment insurance premium according to the average wage of employees in the province in the previous year. After the average wage of employees in the province in the previous year was announced, it will be supplemented according to the prescribed standards; You can also voluntarily choose to pay the average salary of employees in the province after the announcement of the last year.

Calculation method of social security payment:

Generally, my salary income in the previous year is the payment base.

(1) If the wage income of employees is higher than 3% of the local average wage of employees in the previous year, 3% of the local average wage of employees in the previous year will be the payment base;

(2) If the wage income of employees is lower than 6% of the local average wage of employees in the previous year, 6% of the local average wage of employees in the previous year will be the payment base;

(3) employees whose wages are between 3% and 6% shall be declared according to the facts. When the wage income of employees cannot be determined, the payment base shall be determined according to the local average wage of employees in the previous year published by the local labor administrative department.

every year, social security will check the base at a fixed time (March or July, depending on different places), and declare a new base according to the average monthly salary of employees in the previous year, and it is necessary to prepare the payroll.