Apr. 13 – The Beijing Social Security Fund Management Center released the “Notice from Beijing Human Resources and Social Security Bureau and the Beijing Statistics Bureau on the 2011 Beijing Average Income” on April 11, specifying the new wage base for calculating social security contributions for the year 2012.
The 2011 average annual income in Beijing was RMB56,061 and the monthly average was RMB4,672. As such, the bases for social insurance contributions in 2012 are as follows:
“Flexible employees” are those who are not full-time employees and work temporarily and flexibly, including the dismissed, resigned and the self-employed with files at local labor and personnel authorities. This also includes those who retired early with approval from the local labor and personnel authorities, registered unemployed personnel, individual businessmen, entrepreneurs and their employees.
Social insurance contributions for “flexible employees”
Basic pension and unemployment insurance
Dezan Shira & Associates is a specialist foreign direct investment practice and can advise international companies investing in China on the country’s complete legal, tax and operational issues. The firm was established in 1992 and maintains 12 offices throughout China, in addition to practicing in Hong Kong, India, Vietnam and Singapore. The firm can advise on all matters of China HR, payroll and costs. Please contact the firm at email@example.com or visit our web site at www.dezshira.com.
China’s Social Insurance Law
A summary of some of the key points in the newly implemented Social Insurance Law, which covers a great deal more than just incorporating foreigners into the system. We explain the costs and benefits of participation by foreign employees to both companies and individuals as well as take a look at some of the trends across the country relating to the implementation of the law.
Human Resources in China
Specifically designed to cover the most important issues relating to managing a Chinese workforce, this guide details the HR issues that both local managers in China and investors looking to establish a presence on the mainland should be aware about.
Beijing City Guide
Asia Briefing’s Beijing City Guide is designed for the investor seeking a general overview of China’s political and cultural heart. Also one of the country’s most scenic and historical locations, Beijing’s numerous landmarks such as the Forbidden City and proximity to the Great Wall also make the city a wonderful place to live, work, or visit.
Mandatory Social Welfare Benefits for Chinese Employees
Calculating Overtime Payments in China
Suzhou Details Foreigners’ Mandatory Social Insurance Participation
Previous Article « ChinaGlare – Has Your China Business Become Too China-Centric?
Next Article 2012 Annual Compliance Reports for Shenzhen Representative Offices »
Dezan Shira & Associates´ brochure offers a comprehensive overview of the services provided by the firm. With its team of lawyers, tax experts, auditors and...
A firm understanding of China’s laws and regulations related to human resources and payroll management is absolutely necessary for foreign businesses in...
Doing Business in China 2022 is designed to introduce the fundamentals of investing in China. Compiled by the professionals at Dezan Shira & Associates in...
With the scope and penalties of China’s social credit system being further clarified in 2021, legal and regulatory compliance has become more important than...
As a legitimate tool for reasonable tax planning and cost saving, tax incentives play an important role. Companies also use tax incentives as a useful...
Over the last few months, China has been quickly expanding the pilot program on electronic special value-added tax (VAT) fapiao (hereafter special VAT...
Dezan Shira & Associates helps
businesses establish, maintain,
and grow their operations.
Comments are closed.
Stay Ahead of the curve in Emerging Asia. Our subscription service offers regular regulatory updates,
including the most recent legal, tax and accounting changes that affect your business.