What is the social security paid at work?

Social security paid at work is the social insurance premium paid by both individuals and units.

1, the social security expenses shall be shared by individuals and units;

2. The part paid by the individual enters the personal account;

3, the unit to pay part of all included in the overall fund;

4. Funds in personal accounts can be withdrawn when certain conditions are met;

5. The funds paid by the unit are used to pay the pension benefits for retirees;

6, if the overall fund deficit, the state finance will give subsidies.

Types of social security:

1, old-age insurance: providing basic living security after retirement;

2. Medical insurance: used to reduce the burden of personal medical treatment due to illness;

3. Unemployment insurance: provide financial assistance for a certain period of time when unemployed;

4. Work-related injury insurance: in case of work-related injury or occupational disease, provide medical expenses and living allowance;

5. Maternity insurance: provide certain economic subsidies and medical services for maternity.

To sum up, the social security paid at work is a cost shared by both individuals and units. The part paid by the individual is deposited in the personal account, which can be withdrawn when it meets the conditions, and the part paid by the unit enters the overall fund, which is mainly used to pay pensions for retirees. If the overall fund is insufficient, the state finance will give subsidies.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 57

The employing unit shall, within 30 days from the date of its establishment, apply to the local social insurance agency for social insurance registration with its business license, registration certificate or unit seal. The social insurance agency shall, within fifteen days from the date of receiving the application, examine and issue the social insurance registration certificate.

Where the social insurance registration items of the employing unit are changed or the employing unit is terminated according to law, it shall, within 30 days from the date of change or termination, go to the social insurance agency to handle the change or cancellation of social insurance registration.

The market supervision and management department, the civil affairs department and the organization management organ shall promptly inform the social insurance agency of the establishment and termination of the employing unit, and the public security organ shall promptly inform the social insurance agency of the birth, death, household registration, migration and cancellation of the individual.

Article 58

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. Employees-free individual industrial and commercial households who voluntarily participate in social insurance, part-time employees who do not participate in social insurance in the employing unit and other flexible employees shall apply to the social insurance agency for social insurance registration. The state establishes a national unified personal social security number. Personal social security number is a citizen's identity number.

Article 60

The employing unit shall declare itself and pay social insurance premiums in full and on time, and shall not postpone or reduce the payment except for legal reasons such as force majeure. The social insurance premiums that employees should pay shall be withheld and remitted by the employer, and the employer shall inform me of the details of paying social insurance premiums on a monthly basis. Individual industrial and commercial households without employees, part-time employees who have not participated in social insurance in the employing units and other flexible employees can pay social insurance premiums directly to the social insurance premium collection agencies.