The adjustment of the payment base of social security and provident fund often tugs at the heartstrings of countless employees. This is not only a direct change in personal salary, but also affects the cost of living and future security.
Recently, various localities have successively released new payment standards for social insurance and housing provident funds in 2024, let's take a look at how they are adjusted.
01
Sichuan Province: Adjustment of medical insurance payment standards for employees in many places
A number of cities in Sichuan Province have also announced new medical insurance payment standards for employees. For example:
Meishan City
From July 2024 to June 2025, the minimum medical insurance contribution base for employees is set at 4,511 yuan per month.
For flexible workers, they need to pay at a rate of 8%, which is 360.88 yuan per month, which does not include maternity insurance. If they choose to participate in the hospitalization pooled insurance only, then the contribution rate is 4%, which is equivalent to 180.44 yuan per month.
Yibin City
According to the regulation of 80% of the average salary of employees in urban units in Sichuan Province in 2023, Yibin City has decided to set the minimum monthly payment for employee medical insurance in 2024 to be 6,015 yuan.
This exceeds the corresponding value of Meishan City, showing the economic growth of Yibin City and the increase in employee salaries.
02
Fujian Province: Adjustment of the payment base of employees' medical insurance
On June 25, the Fujian Provincial Medical Security Bureau announced the "Notice on the Adjustment of the Upper and Lower Limits of the Employee Medical Insurance Payment Base in 2024". The notice clarifies that starting from July 1, 2024, the payment standard of basic medical insurance (including maternity insurance) for urban employees in Fujian Province will be increased to:
- Upper limit: 22164 yuan;
- Lower limit: 4433 yuan.
For those who are flexibly employed, the minimum monthly payment standard for basic medical insurance shall not be less than 4,433 yuan.
The purpose of this adjustment is to promote the overall optimization of the social insurance system in Fujian Province. For many, however, this represents a higher amount of actual contributions, which can have an impact on their family's financial plans.
03
Guangzhou and Chongqing adjusted the provident fund contribution base
The adjustment of the provident fund is also of great concern, as it is an important source of funds for many people to buy a home.
Guangzhou City
On June 24, Guangzhou issued a notice on the adjustment of the contribution base of the housing provident fund:
- The adjustment is to set the contribution base at three times the upper limit of the average monthly salary of employees in 2023, and establish it in the range of 2,300 yuan to 39,579 yuan.
- The adjustment period is from July 1, 2024 to June 30, 2025.
Chongqing Municipality
Chongqing's notice stipulates:
- The upper limit of the CPF contribution base for 2024 is $29,362, and the lower limit must not be lower than the minimum wage.
- The minimum wage in the first tier (including 26 districts including Yuzhong District and Jiangbei District) is set at 2,100 yuan per month, and the minimum wage in the second tier (including 12 counties including Chengkou County and Fengdu County) is set at 2,000 yuan per month.
These adjustments provide more personalized financial support to employees at different income levels and reflect the differentiated considerations of local governments in housing policies.
04
Lanzhou and Nanchang City: Preferential policies for flexible employees
Lanzhou City
Lanzhou City has made specific provisions on the contribution of provident fund in 2024:
- The contribution base is based on the average monthly salary (employees) or average monthly income (flexible employees) of the previous year.
- The upper limit of the contribution base is 27,753.51 yuan, and the lower limit is based on the minimum wage standard, ranging from 1,900 yuan to 2,050 yuan in different regions.
- 12% for units, 9% for individuals, and 10% for flexible employees.
Nanchang city
Nanchang City also announced on June 24 the adjustment of the provident fund base:
- The upper limit of monthly contribution in 2024 is 6,660 yuan, and the lower limit is 260 yuan.
- New units can choose the contribution ratio between 5% and 12%, while enterprises that encounter operational difficulties can apply for an adjustment of the ratio.
The move is aimed at providing more flexibility for businesses, while also helping low-income earners reduce the burden of insurance contributions.
Write at the end
In general, the adjustment of the payment base of five insurances and one housing fund in 2024 has brought new challenges and new opportunities. As employees, understanding policies and planning reasonably will help us better cope with future changes and safeguard our own economic interests and quality of life.
Source: Consumer Science