Social Insurance Deferred Payment
The Ministry of Human Resources and Social Security and the State Administration of Taxation recently issued the Notice  no. 16 about the Phased Implementation of the Deferral Policy of Social Insurance Premiums for Enterprises in Certain Industries.
The policy will allow eligible enterprises to defer the payment of three pillars of the social insurance system, namely the basic pension insurance, unemployment insurance, and work-related injury insurance. In the specific, enterprises, industrial and commercial households operating in catering, retail, tourism, civil aviation, and road, water, and railway transport can defer the payment of the employer’s part of the three pillars according to the following:
The deferral period for the payment of basic pension insurance premiums is from April to June 2022
The deferral period for the payment of unemployment insurance and work-related injury insurance premiums is from April 2022 to March 2023
During the above terms, eligible enterprises can apply for deferral payments for different periods. Enterprises that have already paid the premiums for April 2022 can apply for a deferral from May onwards or apply for a refund of the premiums paid in April.
The policy aims to support the cash flow of enterprises in difficulties impacted by the recent COVID outbreaks by reducing the financial stress for smaller employers and stabilizing the level of employment.