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Social Security Contribution Temporarily Reduced
The purpose of the Regulation is to reduce the rate of mandatory Social Security Fund contributions under Section 33 of the SSA, which is effective for a total of three months starting from 1 January 2021 to 31 March 2021. The reduction from a five percent contribution to a three percent contribution applies to both employers and employees. The table below shall summarize the breakdown of the reduced contribution according to the Regulation.
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