What does the company mean by paying social security?

Legal analysis: enterprise employees participate in social insurance by withholding and remitting personal part from employees' wages, and some enterprises pay it to the social security fund on time. If the enterprise fails to pay on time, it shall bear a daily fine of 5/ 10000 according to law.

Legal basis: Article 72 of the Labor Law of People's Republic of China (PRC). Employers and workers must participate in social insurance and pay social insurance premiums according to law. The scope of application of the labor law is the laborers who form labor relations with enterprises and individual economic organizations in China. Organs, institutions, social organizations and workers who have established labor contract relations with them shall also be implemented in accordance with the Labor Law of People's Republic of China (PRC).