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How many grades are there to pay social security?
Legal basis: People's Republic of China (PRC) Insurance Law.
Article 64 Social insurance funds include basic old-age insurance funds, basic medical insurance funds, industrial injury insurance funds, unemployment insurance funds and maternity insurance funds. In addition to the basic medical insurance fund and maternity insurance fund combined accounting, other social insurance funds are accounted for separately according to social insurance types. Social insurance funds implement a unified accounting system throughout the country. The social insurance fund is earmarked for special purposes, and no organization or individual may occupy or misappropriate it. The basic old-age insurance fund will gradually implement national overall planning, and other social insurance funds will gradually implement provincial overall planning. The specific time and steps shall be stipulated by the State Council.
Article 65 Social insurance funds shall achieve balance of payments through budgets. When the social insurance fund is insufficient to pay, the people's governments at or above the county level shall give subsidies.
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