China Taxation
Continuation of the Subsidy Policy for Job Stabilization in Shenzhen
A Notice on Continuation of the Subsidy Policy for Job Stabilization in Shenzhen was published by Shenzhen Ministry of Human Resources and Social Security on 19 July 2021. According to the Notice, Shenzhen will continue to implement the subsidy policy for Job Stabilization in 2021. The main contents of the Notice are as follows:
- Who can enjoy the subsidy policy
Enterprises registered in Shenzhen (including those incorporated for less than one year).
- Requirements
(1）
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Have paid full amount for unemployment insurance according to the regulation;
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(2）
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The enterprises did not lay off employees in last year or the layoff rate is no higher than the national unemployment rate (6%) of last year. The layoff rate of enterprises with less than 30 employees (including 30) shall be lower than 20% of total insured employees.
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(3）
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Maintain good financial system and management.
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- Subsidy Standard
For large enterprises, it is 30% of the total amount of unemployment insurance that enterprise and employees have paid last year. For micro, small and medium-sized enterprises, it is 60% of the total amount of unemployment insurance that enterprise and employees have paid last year.
- Payment Time
Shenzhen Administration of Social Security Fund will review the data of eligible enterprises (application exempted) and release the list as well as the amount of job stabilization subsidies. The actual disbursement time of the subsidy is subject to receipt.
- Usage of Subsidy
The subsidy of job stabilization is paid from unemployment insurance, which is mainly used for living subsidies, paying social insurance, job-transfer training, skill development training and other related expenses for employees. An enterprise, which does not use the subsidy according to regulations, will be ordered by Shenzhen Administration of Human Resource to recover or return the subsidy, and subjected to fines and penalties.
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