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Social Insurance Details for foreigners in Shenzhen

According to the Interim Measures for Social Insurance System Coverage of Foreigners Working within the Territory of China, foreigner working in China should buy social insurance except of eight countries signed Mutual Exemption Agreements.


Shenzhen Social Insurance Details for Foreigners:


Remarks:1.The lowest salary of Shenzhen will be adjusted to 2200RMB from Aug 1st, 2018.2. Foreigner can select No. 2A or No.2B for medical insurance.

3. Social insurance base should be same as monthly pre-tax salary.

4. Insurance for Injury at work’s percentage will be different for different company.

5. Social insurance is obligatory in SZ and Housing fund is not obligatory for foreigners employed in Shenzhen.


Calculations Examples


E.g.: Foreigner’s monthly salary is 35000RMB, how much for social insurance:If selecting medical insurance category I(2A):Employer pays: 25044*(13%+6.2%+0.45%+0.28%)+2200*1%=5013.27RMB.

Employee payys: 25044*(8%+2%) +2200*0.5%=2515.40RMB.

If selecting medical insurance category II(2B):

Employer pays: 25044*(13%+0.45%+0.28%)+8348*0.6%+2200*1%=3510.63RMB.

Employee pays: 25044*2%+8348*0.2%+2200*0.5%=2031.22RMB.


Who? What documents needed?


Who can buy social insurance?Foreigners who get work permit in Shenzhen.
Documents for buying social insurance in Shenzhen?1.Application form with company seal.2.Foreigner Work Permit and copy with company seal.

3. Passport and copy with company seal.

Company’s social insurance clerk needs to go to Social Insurance Bureau to apply.


Financial Social Security Card


When can apply a financial social security card?Second month after you bought social insurance in Shenzhen can apply.Where to apply social security card?

Any bank of the following 12 banks in Shenzhen:

China Construction Bank,Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, China Merchants Bank, Ping’an Bank, Shenzhen Rural Commercial Bank,China Postal Savings Bank, China Communication Bank, China CITIC Bank, China Minsheng Bank, China Everbright Bank.

Documents for applying financial social security card for foreigners:

1. Original Passport

2. Photo Receipt for Social Security Card (Can take in a photo studio)

How much need to pay for financial social security card?

Free for first-time application,20RMB for non-first-time application.


Mutual Exemption Countries


Which countries signed mutual exemption agreement with China?Germany, Korea, Denmark,Canada, Finland, Switzerland, Netherland, Spain.Foreigners from above countries who can apply for exemption for certain insurance categories after submitting the participation certificate and written application form with company official seal to local Social Security Bureau through the employer.


Refunding


How to apply to refund social insurance before foreigners leave China?Need to stop buying social insurance first.Documents needed:

1. Application Form with company seal.

2. Passport.

3. Work permit or Cancellation cerficate of work permit.

4. Bank card of any China 4 major state-owned banks (Construction Bank, Industrial and commercial bank, Bank ofChina, Agriculture Bank).

Must provide financial social security card if have.

Originals and copies for 2,3,4.

How much can be refunded:

Only can refund the employee parts.


Housing Fund in Shenzhen


Foreigners can buy housing fund in Shenzhen.Documents needed:1.     Passport

2.     Bank Account Opening Receipt for Category I bank card in any one of the following seven banks:

China Construction Bank, Industrial and Commercial Bank of China, Bank of China, China CITIC Bank, Industrial Bank, Bank of Communications, China Merchants Bank.

Official link for Interim Measures for Social Insurance System Coverage of Foreigners Working within the Territory of China: http://www.mohrss.gov.cn/gjhzs/GJHZzhengcewenjian/201109/t20110926_83664.html
Feel free to contact us for more details.Contact: OliviaCompany Name: Shenzhen ZIX Consulting Co., Ltd

Address: Room 18NO, Block B, Fortune Plaza, No. 7002, Shennan Road, Futian District, Shenzhen.

Email: sales@zixtr.com

Mobile (WeChat): 13684991963

Company Public Account: ZixConsulting

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