Job Recruitment Website - Social security inquiry - How long will it take for the company to pay back the social security?
How long will it take for the company to pay back the social security?
Legal basis: People's Republic of China (PRC) Social Insurance Law.
Article 12 The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of employees stipulated by the state and record it in the basic old-age insurance pooling fund. Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts. Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.
Thirteenth employees of state-owned enterprises and institutions to participate in the basic old-age insurance, the basic old-age insurance premiums payable during the payment period shall be borne by the government. When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.
Article 14 Individual accounts shall not be withdrawn in advance, and the bookkeeping interest rate shall not be lower than the bank time deposit interest rate, and interest tax shall be exempted. If an individual dies, the balance of the individual account can be inherited.
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