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Advantages and disadvantages of self-employed paying social security

The benefits of this group paying social security include the protection of social security rights and interests, the continuity and flexibility of policies. Disadvantages include great economic pressure and insufficient insurance coverage.

1. Protection of social security rights and interests: Self-employed individuals and their employees can obtain basic social security, such as endowment insurance and medical insurance, which ensures a stable source of income (pension) and reimbursement of medical expenses for the elderly.

2. Tax preference: In some cases, social security contributions can be deducted before tax to reduce the taxable income, thus reducing the tax burden of individuals or enterprises.

3. Great economic pressure: self-employed individuals need to bear the social security expenses of themselves and their employees in full, which is significantly higher than that of employees in enterprises who are shared by units and individuals.

4. Insufficient insurance coverage and protection: Compared with the comprehensive protection of five insurances and one gold for enterprise employees, self-employed individuals can only pay pension insurance and medical insurance, but cannot enjoy the coverage of unemployment insurance, work injury insurance and maternity insurance.