In China, employment plays an extremely important role in the development of the Chinese economy, and in improving the overall social condition of the population’s livelihood. Employment also plays an important role on the livelihood of the people, and entrepreneurship is one of the main sources of employment for the people in China. This is the reason why China has put in place multiple rules and regulations which are all directed towards the betterment of the Chinese people, and to increase the Chinese economy.
Bringing about a new round of reforms with the help of a series of policies, the Chinese government is looking to stimulate the vitality of public entrepreneurship on a broader scale, while guiding and helping start up business for various groups. This is where the expertise of Business China comes in to take away the complexity of the China Social Insurance Allowance process.
To encourage start-ups to promote employment, Guangzhou authorities issue one social insurance allowance to subsidize start-ups paid social insurance fees for employees according to China's new Social Insurance Law.
Here’s how business drives employment Allowance of Guangzhou:
- Enterprises hire employees with records and China Social Security charges. They are given an allowance by quantity of employment (it is ineligible for legal representative or principal)
- If employees are less than 3 people (including the third one), they will be given a 2000-yuan allowance each.If they are more than 4 people (including the fourth one), everyone will be given 3000 yuan.
- Everyone has a chance for getting a China Social Insurance Allowance. It can be applied several times, but the total amount can't be more than RMB 30,000 yuan.
- Time of application for subsidy can't more than 4 years from the time of enterprises' establishment.
- In accordance with the rules of the laws on social insurance allowance in China, all enterprises ar required to sign a contract with employees over a year and buy social security more than 3 months for employees.
- Enterprises that apply allowance must belong to Guangzhou or social newly-established groups (include small business, individual business, private non-governmental units and farmer's professional cooperative, family farm and so on.
- Contact for a preliminary assessment
- Preparation ofall declaration documents, guide you through the relevant data collection based on China Social Security System
- Submission of electronic declaration materials - submitted by Business China
- Submission of a paper version of the material
- Official review and issuance
Document Checklist for Allowance Application
- Original and copies of duplicate business license
- Copies of employees' ID cards
- Original labor contracts of employees
- Enterprise bank account opening license copy
- Social insurance registration certificate copy
- Other materials should be offered according to requirements