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notice of shanghai municipality on adjustment of housing provident fund contribution base and rates as well as upper and lower limits of monthly contributions for fiscal year 2023

shanghai housing provident fund management committee [2023] no. 9

to all units liable to make housing provident fund contributions: 

　　in accordance with relevant stipulations in the regulations on the administration of the housing provident fund, the provisions of shanghai municipality on the administration of the housing provident fund, and the measures of shanghai municipality on the administration of housing provident fund contributions, we have made adjustments to policies pertaining to housing provident fund contribution bases, contribution rates as well as upper and lower limits of monthly contributions in light of the current situation of this municipality, after deliberation and ratification by the shanghai housing provident fund management committee. we hereby notify you of the aforesaid adjustments for fiscal year 2023:

　　i. contribution base and calculation method

　　all units shall calculate their employees’ average monthly salaries according to the average monthly salary calculation method adopted by shanghai municipal bureau of statistics, and determine housing provident fund monthly contributions by using employees’ average monthly salaries as payment bases. all units shall inform their employees of the ratification results within one month after having employees’ housing provident fund monthly contributions ratified so as to protect their legitimate rights and interests.

　　as of july 1, 2023, employees’ housing provident fund contribution bases shall be adjusted from the average monthly salaries of 2021 to the average monthly salaries of 2022. for an employee starting his or her first job as of january 1, 2023,the second month’s salary-based income or the year-to-date average monthly salary actually taken since employment shall be used as the housing provident fund contribution base.for an employee newly re-employed by the present unit as of january 1, 2023, the first month’s salary-based income upon the re-employment or the average monthly salary actually taken after the re-employment shall be used as the housing provident fund contribution base.

　　the housing provident fund contribution base shall neither exceed rmb 36,549, nor fall below rmb 2,590. 

　　ii. contribution rates

　　(i) housing provident fund contribution rates 

　　the housing provident fund contribution rates of employees and units shall both be 5% to 7% (whole number). contributing units may determine the contribution rate within the range at their own discretion.

　　(ii) supplementary housing provident fund contribution rates

　　contributing units may opt to participate in the supplementary housing provident fund system on a voluntary basis, with the contribution rates of employees and units for the supplement housing provident fund both ranging from 1% to 5% (whole number). actual contribution rates shall be decided upon by contributing units according to their actual situation.

　　(iii) reduced contribution rates or deferred contributions

　　applications may be submitted by eligible enterprises for approval of reduced contribution rates or deferred housing provident fund contributions pursuant to relevant rules specified in the measures of shanghai municipality on the administration of housing provident fund contributions [shpfmc (2023) no.3].

　　iii. monthly contribution amounts

　　housing provident fund monthly contribution amount = the contribution base multiplied by the employee’s housing provident fund contribution rate the contribution base multiplied by the unit’s housing provident fund contribution rate.

　　the same method applies to the calculation of the supplementary housing provident fund monthly contribution amount.

　　iv.  upper and lower limits of monthly contribution amounts

　　(i) upper and lower limits of housing provident fund monthly contribution amounts

　　should the housing provident fund contribution rates of an employee and his or her unit be both 7%, the corresponding upper limit of the monthly contribution amount is rmb 5,116. 

　　should the housing provident fund contribution rates of an employee and his or her unit be both 7%, the corresponding lower limit of the monthly contribution amount is rmb 362.

　　(ii) upper and lower limits of supplementary housing provident fund monthly contribution amounts

　　should the supplementary housing provident fund contribution rates of an employee and his or her unit be both 5%, the corresponding upper limit of the monthly contribution amount is rmb 3,654.

　　should the supplementary housing provident fund contribution rates of an employee and his or her unit be both 5%, the corresponding lower limit of the monthly contribution amount is rmb 260.

　　the upper and lower limits of monthly contribution amounts corresponding to each contribution rate are detailed in the attached table.

　　moreover, the upper and lower limits of monthly contribution amounts for urban individual businesses and their employees, as well as freelancers shall also refer to the attached table.

　　v. notes

　　1. in an effort to continuously optimize the business environment, from may to june 2023, enterprises that meet the conditions for declaring social insurance premiums and have paid housing provident fund contributions until april 2023 may apply for the combined declaration of employees’ salaries for the contribution to social insurance premiums and the housing provident fund for the fiscal year 2023 via the “government online-offline shanghai” platform. starting from july 2023, enterprises that have paid housing provident fund contributions until june 2023 with applications for combined declaration approved may log in to the “government online-offline shanghai” platform to inquire about the results of housing provident fund contribution base adjustments.

　　enterprises will not need to go through the formalities for the housing provident fund contribution base adjustment for the year 2023 provided that they have gone through the formalities of applying for the combined declaration and got the results of housing provident fund contribution base adjustments through inquiry on the government online-offline shanghai platform.

　　2. starting from july 2023, units that have not gone through the formalities of combined declaration may, after completing the housing provident fund remittance procedures for june 2023, apply for housing provident fund contribution base adjustments for the year 2023 via previous channels, such as the shanghai housing provident fund website, their own online handling systems for housing provident fund operations, “shanghai provident fund” app, and china construction bank. the shanghai provident fund management center shall continue to share data with shanghai municipal administration center for social insurance affairs. units may opt to use the social security declaration information when going through the formalities of applying for housing provident fund contribution base adjustments through the aforementioned channels, and will not need to repeat the procedure of filling in their employees’ average monthly salary information.

　　3. after completing the annual contribution base adjustment, units shall timely remit the housing provident contributions for july 2023. within the same housing provident fund year, units may apply for changes in the contribution rate as needed.

　　please be notified and proceed accordingly.

　　attachment: table of monthly contribution limits to the housing provident fund in shanghai for the year 2023

shanghai housing provident fund management committee

june 30, 2023

attachment

table of housing provident fund monthly contribution amount upper and lower limits corresponding to each contribution rate for the year 2023 in shanghai municipality