Social security contributions in detail
Both employers and employees must contribute to the social insurance fund which covers pension, maternity, work injury, medical and unemployment insurance. An employer must not only pay its own part of the social insurance contribution, but withhold the employees’ social insurance contribution from the remuneration and pay that amount to the social insurance authority. The employer must ensure its human resources or finance department complies with the same requirements set out for paying income tax.
The contribution base and the rate of social insurance vary depending on different local regulations.
Author: Fangda Partners
Date: April 2020
Note: All currency conversions into EUR were made on 1 February 2019, using a mid-market rate.