Atotal of 1.344 billion yuan of social securitypremiums had been reduced orexempted in Yichang enterprises by the end of June since the temporary policy of cutting social securitypremiums for enterpriseswas carried out from February of this year. Thispreferential policy benefits 18,000 enterprises and nearly 400,000 employees, whichpractically lightens the burden ofenterprises and helps themto revive after the epidemic, based on information from the Yichang Tax Bureau on August 4.

　　The Provincial Departmentof Human Resources and Social Security, the Provincial Department of Finance, and the Provincial Tax Bureau jointly issued the Notice on Extending the Period for Implementing the Phased Policy of Reducing or Exempting Social SecurityPremiumsof Enterprises in HubeiProvince. In this Notice,the temporaryexemption of social securitypremiums for micro, small and medium-sized enterprises, which beganin February, willbeextended to the end of the year; The exemption policy of the pension, unemployment and work-related injury compensationwill be implemented tothe end of June 2020 for large enterprises and other entitiesparticipating in social security;(Except party and government organs and public institutions) ; Companies undergoing severe difficulties due to the epidemic are eligible for the deferral of social insurance payments for six months by the end of December 2020, and no overdue fine will be charged during this period. All measures in this Notice will continuously help to reduce the burden of paying premiums for enterprises and theinsurance participants withlowincome.

　　Increasing enterprises will benefit from the fee reduction as the policy is implemented. “The social security paid by our company in the first half of 2020totals163,000 yuan, a 46.4% decrease compared with the previous year. Meanwhile, our companybenefits154,000 yuanowing to the reduction of social security premiums, which effectively reduces the labor cost and helpsitto rejuvenate.” Yang Aiwu, an accountantof the Yuanan Shengyuan Water Supply Co., Ltd. said.

　　This bureau jointly work with the Departmentof Human Resources and Social Security and the Department of Finance to set up a mentoring team of “one company, one policy” tocarry outthe policy publicity, consultation, training and follow-upservice both online and offline, ensurethe “one-to-one” preferential policy and directly benefitthe market entity,according to officials of the Municipal Tax Bureau.(Reporter Chen Xi, correspondent Yang Kai, Zhang Dengshan)