Significance of paying social security

1. provide basic survival guarantee after old age;

2. Provide daily life and life support;

3. Social security in big cities is also related to the qualifications of buying a house, settling down and buying a car.

4. Employee social security, social security will be deducted first when paying wages, which will reduce the payment of personal income tax.

Legal basis:

People's Republic of China (PRC) Social Insurance Law Article 2 The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance to protect citizens' right to get material help from the state and society in the event of old age, illness, industrial injury, unemployment and maternity.