What is the difference between the company's contribution to the pension insurance and the individual's contribution?

There are significant differences in terms of the main body of payment, the proportion and amount of payment, the mode and channel of payment, and the rights and benefits.

First of all, the main body of the payment is different, the company payment is paid by the enterprise for the employees, while the individual payment is the responsibility of the individual. Secondly, there is also a difference in the percentage and amount of contribution. The company's contribution is usually calculated according to a certain percentage of the employee's salary, while the individual's contribution is determined according to the individual's income. Furthermore, the payment methods and channels are also different. Company contributions are usually made through direct transfers from the company's bank account, while individual contributions can be made through a variety of channels such as banks and social security organizations.

One, the main body of the payment

The main body of the company to pay the pension insurance is the enterprise, the enterprise needs to pay the pension insurance premiums for the employees in accordance with the relevant provisions. The main body of the individual to pay pension insurance is the individual, the individual needs to bear the responsibility to pay.

Second, the proportion and amount of contributions

The company's contribution to the pension insurance is usually calculated according to a certain percentage of the employee's gross salary, and the specific proportion varies according to different regions and policies. On the other hand, the amount of personal contribution to the pension insurance is determined according to the individual's income, and generally speaking, the proportion of personal contribution is relatively low.

Third, the payment methods and channels

Companies usually pay the pension insurance through the enterprise bank account directly to the social security organization, to ensure the timeliness and accuracy of the payment. Individuals can pay pension insurance through a variety of channels, such as bank counters, online banking, social security institutions, etc., so that individuals can choose the appropriate payment method according to their own situation.

Fourth, rights and benefits

There are also differences in rights and benefits between the company's contribution to the pension insurance and the individual's. The company's contribution is usually credited to the employee's account. The company's contribution is usually credited to the employee's personal account, which affects the employee's future pension benefits. The part paid by the individual is mainly used to protect his or her basic pension needs.

Summary:

There are significant differences between company-paid and individual-paid pension insurance in terms of the main body of payment, the proportion and amount of payment, contribution methods and channels, and rights and benefits. The part paid by the company is borne by the enterprise, with a relatively high percentage and amount of contribution, which is directly transferred through the bank account of the enterprise; while the part paid by the individual is the responsibility of the individual, with a relatively low percentage and amount of contribution, which can be paid through a variety of channels.

Legal basis:

The Social Insurance Law of the People's Republic of China

Article 10 stipulates:

Employees shall participate in the basic pension insurance, and the employer and the employee*** shall pay the basic pension insurance premiums together.

The Social Insurance Law of the People's Republic of China

Article 12 stipulates:

Employing units shall pay basic pension insurance premiums in accordance with the State's stipulated proportion of the total wages of their own employees, which shall be credited to the Basic Pension Insurance Coordination Fund. Employees shall pay basic pension insurance premiums in proportion to their own wages as prescribed by the State, which shall be credited to their individual accounts.

The Social Insurance Law of the People's Republic of China

Article 60 stipulates that:

Employers shall declare and pay social insurance premiums on their own, in full and on time, and shall not suspend or reduce them except for force majeure and other legal reasons. The social insurance premiums to be paid by employees shall be withheld and paid by the employer on behalf of the employee, and the employer shall inform the employee of the details of the payment of social insurance premiums on a monthly basis.