East China’s Jiangsu province will lift the ceiling for the payment of corporate social insurance premiums next year, according to the provincial department of social security and human resources.
In 2022, the lower limit of the salary base for basic pension insurance contributions for employees will be adjusted from 3,800 yuan to 4,250 yuan with the ceiling capped at 21,821 yuan temporarily.
The upper and lower limits of the wage base for basic medical insurance, unemployment insurance, work-related injury insurance, and maternity insurance for employees will also be implemented in accordance with the above-mentioned standards with the implementation time determined by each prefecture-level city.
The upper and lower limits of the salary base for social insurance premium payment are determined according to 300% and 60% of the average salary of urban employees in the previous year.
The average wage level has increased year by year in sync with the development of the economy and society, while the base of paid wages will gradually increase accordingly. This is an important measure to protect the rights and interests of the insured and maintain a reasonable increase in the level of benefits.
