Adjustment of Contribution Base for Social Insurance for 2020 in Guangzhou
Acording to the statistics data released by Guangzhou Statistic Bureau, the monthly average salary for the year of 2019 in Guangzhou is RMB10,292. Starting from July 1, 2020 to June 30, 2021, the contribution base for social insurance in Guangzhou will be adjusted to RMB10,292 accordingly. The average salary of the on-post employees working for urban companies in Guangdong Province for the year 2019 is RMB 6,756.
Guangzhou adjusted the minimum and maximum contribution base for social insurance recently. The following base standard have been effective from 1 July 2020.
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The maximum contribution base for basic pension insurance shall not exceed 300% of the last year’s average salary of the on-post employees in Guangdong Province, which will be adjusted to RMB20,268 from July 2020 (i.e.RMB6,756 × 300%);the minimum base remains the same as 2019, which is RMB3,803(i.e.RMB6,338 × 60%).
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The maximum contribution base for basic medical insurance and maternity insurance shall not exceed 300% of the last year’s average salary of the on-post employees in Guangzhou, which will be adjusted to RMB30,876 from July 2020 (i.e.RMB10,292 × 300%);the minimum base shall not be less than 60% of the average salary of on-post employees in Guangzhou, which will be adjusted to RMB6,175 (i.e.RMB10,292 × 60%).
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The maximum contribution base for Unemployment Injury Insurance shall not exceed 300% of the last year’s average salary of the on-post employees in Guangzhou, which will be adjusted to RMB30,876 from July 2020 (i.e.RMB10,292 × 300%);The minimum contribution base remains the minimum wage of Guangzhou(i.e.RMB2,100).
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There is no maximum limitation for contribution base of Employment Injury Insurance from July 2020, and the contribution base should not less than the minimum wages of Guangzhou employees, i.e. RMB 2,100. The contribution rate will be adjusted to 50% from 1 May 2019 to 30 April 2021.