Attention!
There may be multiple adjustments to your salary!
Provident fund balance is subject to interest
According to the Regulations on the Administration of Housing Provident Fund, the housing provident fund shall be calculated at the interest rate stipulated by the state from the date of deposit into the employee's housing provident fund account.
According to the relevant regulations of the People's Bank of China, the interest settlement date of the provident fund is June 30 of each year, and the interest settlement year is from July 1 of the previous year to June 30 of the current year. After the interest is settled, it will be automatically transferred to the employee's housing provident fund account.
Interest amount = personal account funds × actual number of days × annual interest rate ÷360
The deposit interest rate of the employee's housing provident fund account shall be uniformly implemented according to the benchmark interest rate of one-year time deposit.
Many employers will adjust the provident fund contribution base and monthly contribution amount for employees according to their average monthly salary in the previous calendar year after completing the remittance business in June every year.
If your CPF adjustment has been completed, be sure to check whether your CPF contribution has gone up or down when you get your payslip in the near future.
High temperature allowance
According to the Measures for the Administration of Heatstroke Prevention and Cooling Measures, workers who are engaged in high-temperature work are entitled to post allowances in accordance with the law.
If an employer arranges for an employee to work outdoors in a hot weather above 35°C and fails to take effective measures to reduce the temperature of the workplace to below 33°C, it shall pay the employee a high temperature allowance and include it in the total salary.
The standard of high temperature allowance shall be formulated by the provincial human resources and social security administrative department in conjunction with relevant departments, and shall be adjusted in a timely manner according to the social and economic development situation.
According to the "Notice on Doing a Good Job in the Payment of High Temperature Allowance" (Su Ren She Fa [2018] No. 113) jointly issued by the Jiangsu Provincial Department of Human Resources and Social Security, the Jiangsu Provincial Department of Finance, the Jiangsu Provincial Health and Family Planning Commission, the Jiangsu Provincial Administration of Work Safety, and the Jiangsu Provincial Federation of Trade Unions jointly issued the "Notice on Doing a Good Job in the Payment of High Temperature Allowance" (Su Ren She Fa [2018] No. 113), the standard of high temperature allowance in our province will be adjusted to 300 yuan per month from June 1, 2018, and the payment time will be 4 months (June, July, August, and September).
The high temperature allowance paid by the employer shall be included in the total salary and deducted before tax in accordance with the regulations. The wages for normal working hours and the minimum wage standard stipulated by the state do not include the high temperature allowance, and the employer shall not reduce the employee's salary due to the payment of the high temperature allowance.
Source | China Accounting Daily, Labor Daily, Workers' Daily
Edit | Cheng Zhi is in charge of the editor| Zhu Yu
Editor | Huang Yang Producer | Peng Yan
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