What does 5% mean for five insurances and one gold?

Legal analysis: five insurances and one gold 5% means that the payment base is 5%. The employing unit shall, within 30 days from the date of employment, apply to the social insurance agency for social insurance registration for its employees. If the social insurance has not been registered, the social insurance agency shall verify the social insurance premium it should pay.

Legal basis: Article 58 of the Social Insurance Law of People's Republic of China (PRC) stipulates that the employer shall apply to the social insurance agency for 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.