Shanghai and Beijing City – Social Contribution & Housing Fund Adjustment Notice
Notifications have been received from various local governments to adjust the social contribution and housing fund caps, effective July 1, 2024.
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HR Update: New Social Contribution Limits in Shanghai and Beijing Effective from July 2024
Starting in July 2024, Shanghai and Beijing introduced new upper and lower limits on salary bases for social contributions and housing funds, which directly impact both employer and employee contributions.