What does it mean for parents to have social security?

Social security refers to social insurance, which is a non-profit social security system with income redistribution function. It is a system that forces most members of society to participate in order to prevent and share social risks such as old age, unemployment, illness and death and realize social security. Social insurance is a social and economic system that provides income or compensation for those who lose their ability to work, are temporarily unemployed or suffer losses due to health reasons. The social insurance plan is organized by the government, forcing a certain group to use part of its income as social insurance tax (fee) to form a social insurance fund. Under certain conditions, the insured can get fixed income or loss compensation from the fund. It is a redistribution system, and its goal is to ensure the reproduction of material and labor and social stability. The main items of social insurance include endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance. Deduction ratio for social security: 1 for five insurances, 13% for company and 8% for individual. 2. Work-related injury: the company will bear 1%, and the individual will not bear it. 3. Unemployment: the company will bear 1%, and the individual will not bear it. 4. Medical insurance and maternity insurance: 2% for companies and 0.5% for individuals. Above total: 17% shall be borne by the employer and 8.5% by the individual. (Pay salary * payment ratio, you can get as much as you pay. )

Legal objectivity:

People's Republic of China (PRC) Social Insurance Law Article 2 The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance to protect citizens' right to get material help from the state and society in the event of old age, illness, industrial injury, unemployment and maternity. "Regulations on the Management of Housing Provident Fund" Article 2 These Regulations shall apply to the deposit, withdrawal, use, management and supervision of housing provident fund in People's Republic of China (PRC). The term "housing accumulation fund" as mentioned in these Regulations refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units and social organizations (hereinafter referred to as units) and their employees.