Are social security and provident fund together?

Social security and provident fund are not together.

The payment base and amount of social security and housing provident fund have different provisions in different regions, and the payment ratio is usually calculated according to the total wages; Social security includes basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, while housing provident fund is a long-term housing savings paid by employees and units. In practice, social security and housing accumulation fund can be paid by different companies. Some companies may only pay social security, and the provident fund is paid by employees themselves or remitted by the company, which is convenient for handling provident fund loans.

Components of social security:

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

2. Medical insurance: reducing the economic burden of seeking medical treatment due to illness;

3. Unemployment insurance: providing basic living expenses and employment services during unemployment;

4. Work-related injury insurance: providing medical expenses and living allowances for work-related accidents;

5. Maternity insurance: to guarantee the basic income and medical expenses of female employees during childbirth.

To sum up, social security and provident fund are two different systems, and the base and amount of payment are different in different regions. They can be paid separately in different companies to facilitate the handling of provident fund loans.

Legal basis:

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

second

The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law when they are old, sick, injured, unemployed and have children.

Regulations on the administration of housing provident fund

Article 16

The monthly deposit amount of employee housing provident fund is the average monthly salary of the employee in the previous year multiplied by the deposit ratio of employee housing provident fund. The monthly deposit amount of housing provident fund paid by the unit for employees is the average monthly salary of employees in the previous year multiplied by the proportion of housing provident fund paid by the unit.