A series of policies including extending the social insurance payment period and providing subsidies for employees’ training have been worked out for local enterprises in Shanghai to overcome the difficult period amid the coronavirus outbreak, Shanghai’s Municipal Human Resources and Social Security Bureau announced at a press conference held by the municipal government on Monday.
In order to effectively reduce the impact of the epidemic on the production and operation of local enterprises, Shanghai will continue to refund qualified employers who do not lay off employees or lay off fewer employees.
As much as 50 percent of the total amount of unemployment insurance premiums actually paid by the companies and their employees the previous year will be refunded.
It is expected that around 140,000 enterprises in Shanghai will benefit from the policy and save about 2.6 billion yuan ($375 million).
Shanghai will put off adjusting the social security contribution base and employees in Shanghai can pay social insurance premiums from July 1 this year to June 30 of the next year.
It is expected that companies in Shanghai can save 10.1 billion yuan in social security premiums.
Companies participating in social insurance, freelancers and urban and rural residents who fail to pay social insurance premiums in a timely manner will be allowed to fulfill the payment when the epidemic ends. Companies will be exempted from fines for delaying payment.
Besides, companies that organize online vocational training for employees during the epidemic can be subsidized.
The policy is also applied to platforms, e-commerce enterprises and enterprises with new models.
Photo: VCG
