How to do the social security entry vouchers

How to make a bookkeeping voucher for social security entries is described as follows:

When an enterprise accrues for social security, it makes the following entries, debit: administrative expenses - social insurance premiums (unit portion) credit: payable employee compensation - social insurance premiums (unit portion). When the actual wages are paid, the portion to be borne by individuals is deducted back, debit: Remuneration payable to employees - Wages (payable), credit: Other receivables (payable) - Social insurance premiums (individual portion).

Bank deposits/cash (actual amount paid). When the enterprise actually pays the social security, it debits: payable employee's remuneration - social insurance premium (unit part), and other receivables (payable) - social insurance premium (individual part).

Social insurance is mainly through the mobilization of social insurance fund, and within a certain range of social insurance fund to implement the co-ordination of transfers to the workers encountered in the labor risk to give the necessary help, social insurance for workers to provide basic livelihood protection, as long as the workers are eligible to enjoy the conditions of social insurance, that is, either with the employer to establish a labor relationship, or has been in accordance with the requirements of the payment of social insurance premiums, you can enjoy the social security, social insurance premiums. As long as a worker meets the conditions for enjoying social insurance, i.e., either has established a labor relationship with the employer or has paid the required social insurance premiums, he or she is entitled to social insurance benefits. Social insurance is the core content of the social security system.

There are two milestones in the history of social security: the first is the first social security system in Germany during the Bismarck period; the second is the establishment of a comprehensive social security system in the United States in 1935 and the institutionalization of social security, which had a great impact on the globalization of the social security system after World War II.