Will Shengtong Aluminum Mold Company’s five insurances and one housing fund be deducted from wages?

The five insurances and one housing fund borne by the employees of Shengtong Aluminum Mold Company will be withheld from their wages.

According to Article 60 of the "Social Insurance Law" and Article 19 of the "Regulations on the Administration of Housing Provident Fund" of the State Council, Shengtong Aluminum Mold Company shall bear the pension insurance premiums, unemployment insurance premiums, and medical expenses of individual employees. Insurance premiums and housing provident funds are deducted from employee wages by Shengtong Aluminum Mold Company. Together with the portion payable by the unit, social insurance premiums are paid to the social insurance agency, and housing provident funds are paid to the special account of the housing provident fund management center.

"Social Insurance Law"

Article 60: Employers shall declare on their own and pay social insurance premiums in full and on time. Payment shall not be postponed or reduced except for statutory reasons such as force majeure. The social insurance premiums that employees should pay shall be withheld and paid by the employer, and the employer shall notify the employee of the details of the social insurance premiums paid on a monthly basis.

Individual industrial and commercial households without employees, part-time employees who have not participated in social insurance in the employer, and other flexible employment personnel can pay social insurance premiums directly to the social insurance premium collection agency.

State Council

Regulations on the Administration of Housing Provident Fund

Article 19 The housing provident fund paid by individual employees shall be paid by the unit from their wages every month. Withhold and pay.

The unit shall remit the housing provident fund deposited by the unit and paid on behalf of the employees to a special housing provident fund account within 5 days from the date of monthly payment of employee wages, and the entrusted bank shall include it in the housing provident fund of the employees. Provident Fund Account.