The difference between social security and provident fund

The difference between social security and provident fund:

1, different in nature and purpose: social security is to protect the basic needs of employees, including old-age insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance. Provident fund is to help employees accumulate funds to improve their living conditions, including housing, renting and other expenses.

2. Different ways to bear the expenses: social security expenses are shared by individuals and units, with the unit paying part and the individual paying part. The expenses of the provident fund shall be borne by individuals, and no unit or individual may use it for other purposes.

3. Different payment methods: The payment methods of social security are complicated, and there are certain differences according to different types of insurance and regional policies. The payment method of provident fund is relatively simple, mainly based on the balance of personal account and the proportion of deposit.

4. Different functions: Social security mainly guarantees the basic living needs of employees and provides certain benefits and guarantees. Provident fund is mainly to help employees accumulate funds and improve their living conditions.

The characteristics of social security are as follows:

1. The objective basis of social insurance is the risks existing in the labor field, and the object of insurance is the individual workers;

2. The subject of social insurance is specific. Including workers and employers;

3. Social insurance is compulsory;

4. The purpose of social insurance is to maintain the reproduction of labor force;

The insurance fund comes from the contributions and financial support of employers and workers. Insurance coverage is limited to employees, excluding other social members. The insurance coverage is limited to all kinds of risks in labor risks, excluding other risks such as property and economy.

To sum up, it is suggested that when applying for social security, the insured must verify whether their academic information is accurate and make timely amendments or corrections. If you find that the social security education information is wrong, you can apply to the local social security bureau for correction or modification.

Legal basis:

Article 1 of People's Republic of China (PRC) Social Insurance Law

In order to standardize the social insurance relationship, safeguard the legitimate rights and interests of citizens to participate in social insurance and enjoy social insurance benefits, enable citizens to enjoy the fruits of development and promote social harmony and stability, this Law is formulated in accordance with the Constitution.

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The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law when they are old, sick, injured, unemployed and have children.