July 2024 - Shenzhen Social Security Update
As of July 1, 2024, significant changes will be made to the Shenzhen social security regulations due to the upgrade of the social security system and Client platform of social insurance management.
We summarize hereafter the main changes for your information.
We summarize hereafter the main changes for your information.
Changes in Social Security Rules
1. Registration for New Hire at Social Security Center
Social security fees will be incurred when a new hire is registered in the current month
- If the new hire is with the first employer in the current month, the 5 types of social security will be incurred.
- If the new hire is with different employers within the same month, the first employer will pay 5 types of the social security, and other employers shall pay work-injury insurance also.
2. De-registration for leaver at Social Security Center
De-registration shall be performed in the following month, but social security fees will be incurred in the current month, not the following month
- If an employee joins and leaves within the same month, both employers need to pay social security in the current month (refer to details for the new hire registration rules for the fees).
- For resigning employees, social security fees need to be paid for the current month, and there is no need to pay for the following month.
3. Social Security Fee Deduction
Starting July 1, 2024, enterprises shall declare and pay social insurance to tax bureau before 25th of the following month.
If the fees are not successfully deducted on time, any delayed deductions in following month will be considered as back payments. Late payments may affect employee benefits.
Operation Deadlines
Monthly Deadlines for Shenzhen Social Security
It is suggested that inform your HR agent following below timeline to avoid any delay:
- Before 20th of that month for the registration for new hire (effective in the current month).
- Before 24th of that month for the de-registration for leaver (effective in the following month).
Examples for de-registration:
- If an employee's actual resignation date is July 23 and our company is notified by August 5, social security will be paid until the end of August, and housing fund will be paid until the end of July.
- If an employee's actual resignation date is July 23 and our company is notified by July 24, social security will be paid until the end of July, and housing fund will be paid until the end of July.
The above operational rules are currently not linked to any official policies.
