Laws & Regulations
Notice on SPFMC’s Optimizing Business Regulatory Environment for Upgrading HPF Service Standard
2020-03-24

SHGJJ No. 92(2019)

 

To All Service Outlets of District Management Divisions and the Trustee Banks, All staffs and units of paying and depositing HPF:

In accordance with the requirements of CPC Shanghai Committee and Shanghai Municipal Government for optimizing business regulatory environment, we hereby notify you of the followings in a bid to improve services to the units and employees paying and depositing HPF and further upgrade HPF service standard.

1. Improve payment and deposit mechanism with the adjustment of payment and deposit ratio policy

In compliance with Notice of MOHURD, MOF and PBOC on Streamlining HPF Payment and Deposit Mechanism for Further Reduction of Corporate Cost (JJ No. 45-2018), as of July 2018, the HPF payment and deposit ratio of a worker and staff as well as a unit shall both be adjusted to 5% - 7% . A unit may determine the specific payment and deposit ratio within the range mentioned above. A unit may opt to pay and deposit additional HPF on a voluntary basis, with the ratio ranging from 1% to 5% for a worker and staff as well as a unit. Specific payment and deposit ratio shall be determined by the unit according to their actual situation. The HPF payment and deposit ratio of a worker and staff as well as a unit shall be the same.

2. Develop Smart HPF Management for Efficiency

(1) Implement a network approach to deal with routine business of HPF. Newly launched service functions such as online issuance of HPF payment and deposit certificate and online change of the payment and deposit service outlet will enable a unit to handle routine business of HPF through the online system which further facilitates HPF services with efficiency.

(2) Incorporate HPF services into the “all-in-one network”. Comprehensively evaluate HPF services, and manage to incorporate the items such as HPF information query for individual worker and staff and issuance of HPF payment certificate into the “all-in-one network” platform.

(3) Incorporate HPF services into the “single window pass” platform: An entity applicant may fill out the form with relevant information about HPF payment and deposit while applying for starting a business on the “single window pass” platform (http:// yct.sh.gov.cn). Once the registration authority has approved starting of a new business, SPFMC can share the data, and it’s not necessary for the applicant to log onto Shanghai Provident Fund Website () or go to the corresponding service outlet for submission of printed materials or filling out forms with information about HPF payment and deposit. Furthermore, a unit may handle HPF business for a worker and staff on the “single window pass” platform.

3. Cancel the withdrawal application form and develop online services for individual worker and staff

(1) Cancel the withdrawal application form for paperwork reduction. As of 1st April 2019, the withdrawal application form is revoked, with electronic records maintained instead, in a move to increase efficiency by gradually reducing paperwork.

(2) Push ahead with the online withdrawal service to further upgrade service standard. Explore online services for individual business and push ahead with such online services as withdrawal due to retirement or honorary retirement, withdrawal due to major or total loss of earning capacity, and withdrawal due to expiry of the voluntary payment terms, which is accessed to “all-in-one network” platform, in a bid to further upgrade service standard and provide a better service experience.

 

 

 

Shanghai Provident Fund Management Center

30th December 2019