Press conference on corporate social insurance premium reduction to support epidemic prevention and control

A press conference was held Thursday afternoon to brief the media about issues on provisional reduction or exemption of employers' social insurance and medical insurance contributions and deferral of corporate payments to the housing provident fund.

China SCIO February 22, 2020

Hu Kaihong:

Thank you, Mr. You. I'll now give the floor to Mr. Ni.

Ni Hong:

Friends from the media, the CPC Central Committee and the State Council attach great importance to the prevention and control of the epidemic. General Secretary Xi has given key instructions on several occasions, stressing that we should continue to study and introduce targeted and phased tax and fee reduction measures to ease enterprises' difficulties. To implement the CPC Central Committee's deployment to coordinate epidemic prevention and control and economic and social development, the Ministry of Housing and Urban-Rural Development, the Ministry of Finance and the People's Bank of China have proposed three interim support policies on housing provident funds according to the requirement of the State Council executive meeting.

First, enterprises can apply to defer payment of housing provident funds until June 30 in line with the provisions. The payment time during the deferred payment period shall be calculated continuously, without affecting the normal withdrawal of housing provident funds and application for housing provident fund loans by employees.

Second, for employees, especially medical staff and others working on the frontline of epidemic prevention and control as well as those quarantined or impacted by the epidemic, delayed payment of housing provident fund loans shall not be considered a default before June 30. For employees who have difficulties in paying rent, the amount of funds they can withdraw can be reasonably increased and the time of withdrawal can be made more flexible.

Third, enterprises in regions where the outbreak is serious may, in full consultation with employees, decide whether to deposit the provident fund dues before June 30. Enterprises that continue the payment can negotiate with the employees on the amount, and if the deposit is suspended, the time of deposit shall be calculated continuously without prejudice to the normal withdrawal of the housing provident fund and the application for the housing provident fund loans.That's all about the policies.Thank you.

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