Is it legal for companies to subsidize social security instead of buying social security?

It is illegal for companies to subsidize social security instead of buying social security. It is the company's obligation to pay social security for employees. If the company fails to pay social security for its employees on time, it will be ordered to pay or make up for it within a time limit, and a late payment fee of 0.5% will be added daily from the date of default.

First, the meaning of social security:

The full name of social security is actually social insurance. Professionally speaking, social security is a social and economic system in which the state provides a certain proportion of income or compensation to those who lose their ability to work or suffer various economic losses due to health problems, so that the insured can get a certain amount of insurance every month after retirement.

Second, compulsory payment of social security:

It is a legal obligation for employers to pay social insurance for workers.

According to Article 58 of the Social Insurance Law of People's Republic of China (PRC), the employing unit shall handle social insurance registration for employees within 30 days from the date of employment. If the social insurance has not been registered, the social insurance agency shall verify the social insurance premium it should pay.

Participating in social insurance is the obligation of both employers and workers. Neither employees nor employers have the right not to pay social security. The reasons are as follows: most social insurance belongs to social pooling, and the payment of social insurance also involves the interests of the public. If you don't pay social security for employees, you are evading your obligations to the whole society. With the improvement and popularization of China's laws in recent years, workers' legal awareness has increased and they have paid more attention to their own interests. As a manager of an enterprise, it is also a necessary quality to be able to feedback the needs of employees in time.

Legal basis:

Article 84 of the Social Insurance Law of People's Republic of China (PRC), if the employer fails to register for social insurance, the social insurance administrative department shall order it to make corrections within a time limit; If no correction is made within the time limit, the employer shall be fined more than one time and less than three times the amount of social insurance premiums payable, and the directly responsible person in charge and other directly responsible personnel shall be fined more than 500 yuan and less than 3,000 yuan.

Article 86 of "People's Republic of China (PRC) Social Insurance Law" * * * If the employer fails to pay the social insurance premium in full and on time, the social insurance premium collection agency shall order it to pay it within a time limit or make up for it, and from the date of default, an overdue fine of 0.5% shall be charged on a daily basis; Failing to pay within the time limit, the relevant administrative departments shall impose a fine of more than one time and less than three times the amount owed.