What are the benefits of social security payment?

First of all, the benefits of enterprises and individuals paying social security are reflected in:

For enterprises:

1. can free enterprises from complicated and trivial payment affairs and save personnel management costs;

2. Reduce potential legal risks. Social insurance is compulsory. Paying social insurance according to law can provide legal protection for enterprises and avoid the legal risks brought by failing to pay social insurance;

3. Make enterprises pay more attention to the core functions of personnel management such as selecting and employing people, performance appraisal and salary determination;

4. Bring welfare protection to employees, retain talents and make the company develop steadily;

5. Create benefits, assume social responsibilities, and solve the worries of employees.

For individuals:

1. Social security can be tax-free;

2. Paying social security can provide a sense of security for the elderly, help the poor and make up for the lack of education;

3. Foreign household registration personnel can obtain housing loan qualification after paying social security for a certain number of years;

4. Foreign household registration personnel can obtain the qualification to purchase houses after paying social security for a certain number of years;

5. Personnel who meet the talent introduction policy must provide proof of social security payment for a certain number of years when going through the formalities for new talents.

Second, what is social security:

Social insurance, referred to as "social security". It is a statutory insurance system enforced by the government through legislation, which uses insurance to deal with the specific social risks faced by workers and provide them with basic income protection when they temporarily or permanently lose their labor ability and income. Social security projects include: old-age insurance, maternity insurance, medical insurance, unemployment insurance and industrial injury insurance.

Third, which groups are suitable for social security:

1. All kinds of enterprises, individual industrial and commercial households, foreign countries or foreign institutions in the Soviet Union, and laborers who have established labor relations with them;

2 organs, institutions, social organizations, private non-enterprise units and workers who have established labor relations with them;

3 migrant workers, unemployed people, self-employed and self-employed workers;

4. Other units and individuals that meet the policy requirements.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.