If you're planning to open a company or start up business in Guangzhou, don't miss the good news! The government has launched subsidies for enterprises hiring college graduates. Now let's check the details!
Guangzhou Municipal Human Resources and Social Security Bureau has introduced preferential policy to support SEMs and startup business. Eligible enterprises are allowed to apply for subsidies of social security.
In order to promote employment of new graduates and support SMEs, the government has launched a series of active measures including subsidies for employers on social security contributions.
Enterprises recruiting college graduates will be offered subsidies up to ¥10,000 each person per year.
The application process is simple. HACOS can help you prepare the required materials and apply for the subsidy.
Enterprises meeting all of the following conditions can apply for the subsidy:
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Micro- and small-sized enterprise (except for labor dispatches)
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Recruit college graduates from the last two years
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Declare and pay social security according to law
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Have signed 1-year-or-above employment contracts
The government provides subsidies on the actual payments of employer’s social security contributions, including:
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Work-related injury insurance
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Enterprises are allowed to apply for the subsidy on each eligible employee for two years.
In April, 2021, Company A has hired 30 college graduates with over-a-year employment contracts and made social security contributions as required.
In August, 2021, Company A applied for the subsidy for Guangzhou SMEs on graduate employment. The application was approved next month and the company finally received the subsidy of more than 100,000 yuan.
We will keep following the updates on the latest preferential policies for businesses here in GD. Stay tuned!
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SOURCE | HACOS / China Gov
