Notice on the Adjustment of Contribution Base and Rates for Housing Provident Fund

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According to the Notice on the Adjustment of Contribution Base and Rates for Housing Provident Fund issued by Shenzhen Housing Provident Fund Administration Centre on June 30, 2014, the following adjustments shall be implemented.

1. Starting from July 1, 2014, the employer shall adjust the contribution base for Housing Provident Fund. The new contribution base is the average salary of the employee in 2013.

2. During the period from July 1, 2014 to June 30, 2015, the contribution base shall be between RMB1,600 and RMB26,091.

3. Starting from July 1, 2014, the employer may adjust the contribution rate for Housing Provident Fund according to its own situation.

4. The above adjustments shall take effect from July 1, 2014 till June 30, 2015. If the employer fails to make adjustment from July 1, 2014, it shall make up the balance accordingly.

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