Subsidizes employee real estate rent and purchase costs. The housing fund tax rate is negotiable and varies from 11 to 15 percent of the employee’s annual pay.
A Government mandated insurance program that provides funds for paid maternity leaves. Although only women are covered, both men and women must contribute.
A Government mandated medical insurance tax. This is part of China’s socialized medicine and healthcare program.
A Government mandated insurance and retirement program similar to Social Security in the United States.
An optional health insurance benefit providing coverage up to RMB 30,000 for a period of one year.
For around RMB 20 per worker, employers can offer a yearly physical exam as a preventative health measure.
For around RMB 10 per worker, employers can offer employees a RMB 20,000 property insurance policy.
An optional benefit for providing a maximum coverage of RMB 100,000 as a reserve in case of sudden injury or accident.
An additional benefit that provides funds for festival gifts, nursery costs, children’s day gifts, marriage costs and funeral expenses.
Optional bonuses for workers to assist with additional seasonal expenses.
Although this is an optional benefit, in many parts of China it is customary to pay workers on a 13 month basis, giving a bonus payment equivalent to one extra month’s salary prior to the Chinese New Year (usually occurring sometime during the month of February).
The hourly rate for overtime work is 150 percent of base salary. By law, employees may work a maximum of 36 overtime hours per month.
China has 11 national holidays. Chinese law mandates national holidays as paid vacation time. The rate for paid holidays is 100 percent of base salary.
In addition to paid holidays, Chinese law mandates that workers be given ten days per year of paid vacation. The rate for paid vacation is 100 percent of base salary.
A Chinese National Government mandated insurance program that provides coverage for unemployed workers.
A Chinese National Government mandated insurance program that provides coverage in the event of a sudden accident or injury.
The Chinese work week is 40 hours, and, on average, there are 22.5 working days each month.