Is the Five Risks Universal in China?

Not universal. Because the payment standards are different in different places, at present, five insurances and one gold are not universal in the whole country, and local payment can only be consumed or reimbursed locally.

A general term for several kinds of security benefits provided by employers to workers, including endowment insurance, medical insurance, unemployment insurance, work injury insurance and maternity insurance, housing accumulation fund, etc. However, the amount to be paid is not consistent, because the salary of each company is different according to the payment base of five insurances and one gold, which leads to the different amount of five insurances and one gold to be paid by each employee.

When paying five insurances and one gold, the company needs to bear part of it and deduct it directly from the company's bank account, and the employees also need to bear part of it and deduct it from the employee's salary.

"Five insurances" refers to five kinds of insurance, including endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance. Among them, old-age insurance, medical insurance and unemployment insurance are premiums paid jointly by enterprises and individuals, while industrial injury insurance and maternity insurance are entirely borne by enterprises. Individuals do not need to pay fees. It should be noted that the "five risks" are legal.

In terms of "five risks", the sharing ratio of units and individuals is generally: pension insurance units bear 16%, and individuals bear 8%; 6% for medical insurance units and 2% for individuals; Unemployment insurance unit 2%, individual1%; 1% maternity insurance shall be borne by the unit; 0.8% of work-related injury insurance is also borne by the unit, and individual employees do not bear maternity and work-related injury insurance.

In terms of content, social insurance refers to a security system that takes workers as the protection object, takes special events such as old age, illness, disability, unemployment and death as the protection content, and is characterized by government coercion.

Legal basis:

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

Article 60 The employing unit shall declare on its own and pay social insurance premiums in full and on time. Except for legal reasons such as force majeure, the payment shall not be postponed or reduced. 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.