Can the company refund the paid social security?

The company cannot withdraw the paid social security.

Once the company pays social security for employees, this part of the funds cannot be returned; Units cannot unilaterally revoke the declared social security. If it is overpaid, the company can only negotiate with the employees and return the overpaid part. If the funds have been transferred to the corporate account, the unit needs to communicate with the social security bureau or the bank. For the funds in the social security card, employees can withdraw when they surrender, but only the amount paid by individuals can be withdrawn.

The basic functions of social security:

1. Old-age insurance: providing basic living security for retired workers;

2. Medical insurance: reducing the economic burden of employees seeking medical treatment due to illness;

3. Work-related injury insurance: providing medical and economic compensation for workers injured at work;

4. Unemployment insurance: providing living allowance for unemployed workers for a certain period;

5. Maternity insurance: providing maternity allowance and medical services for maternity workers.

To sum up, once an enterprise pays social security for its employees, the paid funds cannot be withdrawn. In the case of overpayment, it is necessary to negotiate a refund or communicate with the Social Security Bureau, and employees can only withdraw individual contributions when they surrender. This shows that the strictness of the social security payment mechanism and the complexity of fund management involve multi-party coordination and there are clear regulations to follow.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 16

Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of fifteen years when they reach the statutory retirement age. Retirement wages can be paid by the social security center from the month after retirement. Please consult the local social security agency for details.