Ministry of Human Resources and Social Security, Ministry of Finance and State Taxation Administration , Circular on Reducing/Exempting Enterprise Social Insurance Premiums for a Period of Time

Main contents: Commencing from February 2020, provinces, autonomous regions and municipalities directly under the central government (excluding Hubei Province) may, depending on how they are affected by the epidemic and the bearing capacity of the funds, exempt micro, small and medium enterprises from payment of the entity paid portion of premiums for enterprise basic old-age insurance, unemployment insurance and work-related injury insurance (the three social insurances) for a period not exceeding five months; for large enterprises and other entities enrolled in social insurance, levy of the entity paid portion of premiums for the three social insurances may be reduced by half for a period not exceeding three months (Article 1).

Commencing from February 2020, Hubei Province may exempt entities enrolled in social insurance from the payment of the entity paid portion of premiums for the three social insurances for a period not exceeding five months (Article 2).

Enterprises whose production and operations experience serious difficulties due to the epidemic may apply for deferred payment of social insurance premiums, the period of which may not, in principle, exceed six months, and no late payment fine shall be charged during the deferred payment period (Article 3).