澳洲幸运8开奖网记录
Laws & Regulations
Notice on Adjustment of Shanghai Housing Provident Fund Payment Base & Upper and Lower Limits of Monthly Payment Amounts for Fiscal Year 2018
2018-04-16

SHGJJG No. 3 (2018)

 

To All Units Liable to Pay Housing Provident Fund:

In accordance with relevant stipulations of the State Council’s Regulations on Housing Provident Fund Administration, Provisions of Shanghai Municipality on Housing Provident Fund Administration, and Measures of Shanghai Municipality on Management of Housing Provident Fund Payment, we have made adjustments to policies pertaining to housing provident fund payment base, payment rates and upper and lower limits of monthly payment amounts in alignment with the actual situation of the Municipality after deliberation and ratification by the 57th plenary meeting of the Municipal Housing Provident Fund Management Committee, and hereby notify you of relevant issues concerning adjustment of Shanghai housing provident fund payment base, payment rates and upper and lower limits of monthly payment amounts for fiscal year 2018:

1. Housing Provident Fund Payment Base and Calculation Method

All units should calculate employees’ average monthly salaries according to the average monthly salary calculation method adopted by Shanghai Municipal Statistics Bureau, and determine housing provident fund monthly payment amounts by using employees’ average monthly salaries as payment base. All units should inform their employees of the ratification results within one month after having employees’ housing provident fund monthly payment amounts ratified so as to protect their legitimate rights and interests.

As of 1 July 2018, employees’ housing provident fund payment base shall be adjusted from average monthly salaries of 2016 to average monthly salaries of 2017.

In the case of the employee starting first job as of 1 January 2018, the second month’s salary or the year-to-date average monthly salary shall be used as the housing provident fund payment base.

As for the employee newly transferred to the present unit as of 1 January 2018, the first month’s salary upon the transfer or the average monthly salary after the transfer shall be used as the housing provident fund payment base.

2. Timeline for Payment Base Declaration and Adjustment

The website’s special column of Payment Adjustment (www.cdfvb.com.cn) is made available and accessible in late April of 2018 for all units to proceed with handling declaration of their employees’ average monthly salaries for 2017.

All units shall proceed with adjustment of the upper and lower limits of the monthly payment amounts as well as HPF payment bases and rates as of 1st July 2018.

3. Payment Rates

(1) HPF Payment Rates

The HPF payment rates of employees and units for fiscal year 2018 shall both be 5% to 7%, but nonetheless, the payment rates should both be 7% in principle. Paying units may opt into the payment rate of 5% or 6% as per actual situation and relevant rules specified in SHGJJG No. 10-2016. Those enterprises encountering the circumstances for rate reduction may set their own rates at 5% or 6% as agreed by pertinent workers’ congress or all the workers through collective negotiation, approved and documented within the enterprises, without SPFMC’s consent any more.

(2)   Additional Housing Provident Fund Payment Rates

Paying units may opt to participate in the additional housing provident fund system the same as before, with the payment rates of employees and units for the additional housing provident fund both ranging from 1% to 5%. Actual rates shall be decided on by the units according to the actual situation.

(3)   Prolonged HPF Payment

An application may be submitted as necessary for approval of prolonged HPF payment pursuant to relevant rules specified in SHGJJG No. 10 -2016.

4. Calculation of Housing Provident Fund Monthly Payment Amount

Housing provident fund monthly payment amount = the employee’s average monthly salary of the previous year multiplied by the employee’s housing provident fund payment rate + the employee’s average monthly salary of the previous year multiplied by the unit’s housing provident fund payment rate. The same method applies to the calculation of the additional housing provident fund.

5. Upper and Lower Limits of Housing Provident Fund Monthly Payment Amounts (For details, refer to the Appendix)

(1)   Upper Limits of Monthly Payment Amounts for Fiscal Year 2018

The upper limit of housing provident fund monthly payment amount is 2996 yuan.

The upper limit of additional housing provident fund monthly payment, based on the payment rates of 5%, shall be 2140 yuan.

(2)   Lower Limit of Monthly Payment Amount for Fiscal Year 2018

The lower limit of the housing provident fund monthly payment amount, based on the payment rate of 7% for both the unit and the employee, is 322 yuan.

The upper limit of the housing provident fund monthly payment amount for owners and employees of individual businesses in urban areas as well as freelancers is 5136 yuan. And the lower limit is 322 yuan.

The monthly payment amount of the employees in some units with a contracted or commission based pay scale can be negotiated between the units and their employees, and determined after reviewed by the municipal provident fund management center for confirmation, and should not be less than 322 yuan.

6. Cautions

(1) To synchronize housing provident fund payment base adjustment timing with the timeline for social security contribution base adjustment for customers’ convenience and business environment optimization, all units should get well prepared for the fund and budget for 2019’s fiscal year base adjustment in advance for protection of paying employees’ legitimate rights and interests, manage to submit their payment bases for review and confirmation in the first quarter (from January to March 2019), and proceed with adjustment of the upper and lower limits of monthly payment amounts as well as the payment bases and rates in April. 

(2) Adjustment of payment base for fiscal year 2018 shall mainly adopt an online approach. All units should proceed with annual base adjustment by clicking on the special column icon for Payment base Adjustment on Shanghai Housing Provident Fund Website (www.cdfvb.com.cn) to read or download and process the annual payment base adjustment directly.

(3) All units are required to make timely payment base adjustment after making the monthly HPF payment for June of 2018, as scheduled for completion in July in principle.

All paying units should make timely and adequate HPF payment. The municipal provident fund management center should maintain in-process and follow-up supervision over those units exercising payment rate reduction, so as to safeguard employees’ legitimate rights and interests.

Please be notified and proceed accordingly.

 

 Appendix: Upper and Lower Limits of SPF Monthly Payment Amounts for 2018

 

Shanghai HPF Management Committee

13 April 2018

 

Appendix: Upper and Lower Limits of SPF Monthly Payment Amounts for 2018

 

 

Type

Payment Rates for the Unit and Employees

Upper Limit of Monthly Payment Amount (RMB yuan)

Lower Limit of Monthly Payment Amount (RMB yuan)

HPF

7% for both

2996

322

6% for both

2568

276

5% for both

2140

230

AHPF

5% for both

2140

/

4% for both

1712

/

3% for both

1284

/

2% for both

856

/

1% for both

428

/

Voluntary Payment

10%-24%

5136

322

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