To explore the contribution rate of the Provident Fund, this financial term is in fact an indicator of the amount of the joint contribution of units and employees to the Fund. It is customised by both companies and employees. Let's talk about it together。

What is the Shanghai Provident Fund rate

IN SHANGHAI, THE PERCENTAGE OF THE PROVIDENT FUND REQUIRED FOR UNIT AND STAFF IS GENERALLY WITHIN THE RANGE OF 5% - 7%. AS A RULE, MOST UNITS AND EMPLOYEES CHOOSE 7% AS THEIR CONTRIBUTION RATIO. HOWEVER, IF THE UNIT CHOOSES THE RATE OF CONTRIBUTION OF 51 TP3T OR 61 TP3T, THEY NEED TO MEET SPECIFIC TERMS AND PROCESSES. ANOTHER THING WE SHOULD NOTE IS THAT THE SHANGHAI CITY PROVIDENT FUND SYSTEM ALSO INCLUDES A SUPPLEMENTARY HOUSING RESERVE, WHICH FALLS BETWEEN 11 TP3T - 51 TP3T. IT SHOULD BE BORNE IN MIND THAT THE CONTRIBUTION OF THE PROVIDENT FUND WAS MANDATORY AND THAT THE REPLENISHMENT OF THE FUND WAS NOT MANDATORY。

So how does the monthly contribution to the Housing Provident Fund be determined? In fact, the contribution base of the Provident Fund is determined on the basis of the average salary of the employee for the previous month. In the case of new employees, the basis for their supplementary housing contributions is calculated on the basis of the income due for the second month of service. Of course, this salary base is the same as that of the Housing Provident Fund。

That's the answer to the Shanghai Provident Fund question