The story appears on

Page A4

February 24, 2020

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business

Housing provident fund relief for firms

Shanghai will allow all enterprises to defer payments of housing provident fund for up to five months, which can help ease their cash flow pressure amid the coronavirus outbreak.

Pu Jianhua, director of the city’s social security fund management center, said yesterday that enterprises in Shanghai can have the grace period for paying housing provident fund starting from February to June without hurting the interests of their employees.

With the housing provident fund, half of which is paid by the employer, people can enjoy a much lower loan rate when buying a home.

People can still apply to use the housing provident fund as usual even if their employers have not paid the corporate part for them on time.

“All enterprises are eligible for the measure,” Pu said. “Those who have paid the funds for February can apply for the deferral for the period of March to June.”

On Tuesday, the State Council issued new rules on collecting social security funds to help businesses during the epidemic.

The country has decided to exempt small- and medium-sized enterprises nationwide and firms in Hubei Province from paying the social security funds of pension fees, unemployment insurance and workplace safety insurance from February to June. The exemption is expected to reach at least 500 billion yuan (US$71.3 billion).


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend