What are social security payments?

Social security is short for social insurance. Social security has a mandatory character, that is, the employer and the individual need to pay. Social security is currently divided into: pension insurance, medical insurance, maternity insurance, work injury insurance and unemployment insurance.

The role of social insurance lies in: old age, medical treatment, life insurance, treatment of injuries, and loss. That is to say, when you are old, sick, injured and lost, you can get a certain cost of compensation and relief.

If you have the conditions to do it, it is certainly better to do it than not to do it, and if you do it, you will have protection, and vice versa.

Contributing individuals only need to pay three kinds of pension, medical and unemployment, maternity and work injury by the employer to pay.

Individuals pay 8% for old age, 2% for medical care, and 1% for unemployment, with your salary as the contribution base to be paid on a monthly basis.