What is the significance of individual social security contributions?

Legal analysis: the amount paid by an individual is the amount you should pay according to the regulations. For example, endowment insurance, the unit pays 20%, and the individual pays 8%. If your salary is 2,000 yuan, the individual will pay 180. The payment base of social security is multiplied by the prescribed rate, which is the amount of social insurance premiums that enterprises or individuals should pay. Local social security payment bases are linked to local average wage data. It is determined according to the average monthly wage income of employees from June 1 day to February 1 day in the previous year. Once a year, it will not change within one year after confirmation. The time to apply for adjusting the social security base is July. Enterprises take the total wages of enterprise employees as the payment base, and individual employees take half of their average monthly wages in the previous year as the base for individuals to pay social insurance premiums.

Legal basis: Article 58 of People's Republic of China (PRC) Social Insurance Law. The employing unit shall handle social insurance registration for employees within 30 days from the date of employment. If the social insurance has not been registered, the social insurance agency shall verify the social insurance premium it should pay. If the employer fails to pay the social insurance premium in full and on time, the social insurance premium collection agency shall order it to pay it within a time limit or make up for it, and from the date of default, an overdue fine of 5/10000 shall be added daily; Failing to pay within the time limit, the relevant administrative departments shall impose a fine of more than one time and less than three times the amount owed.