What does social security mean?

The payment period of social security refers to the payment period of social security.

If you pay social security in May-July, then May-July is called social security premium period; If you only pay social security in March, then March is the period of social security premium. According to the regulations, social insurance premiums should be paid on time every month. The purpose of paying social security is to ensure a normal life with the help of social security policies when residents experience unemployment, retirement, maternity, work injury and retirement. Social insurance refers to a non-profit social security system with income redistribution function, which is used by the state to prevent and force most social members to participate. Social insurance is a social and economic system that provides income or compensation for those who lose their ability to work, are temporarily unemployed or suffer losses due to health reasons. The social insurance plan is organized by the government, forcing a certain group to use part of its income as social insurance tax to form a social insurance fund. Under certain conditions, the insured can get fixed income or loss compensation from the fund. It is a redistribution system, and its goal is to ensure the reproduction of material and labor and social stability. The main items of social insurance include endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance.

legal ground

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. Safeguard citizens' right to receive material assistance from the state and society according to law in cases of old age, illness, work injury, unemployment and maternity. Article 3 The social insurance system adheres to the principles of wide coverage, basic protection, multi-level and sustainability, and the level of social insurance should be compatible with the level of economic and social development. Article 6 The State exercises strict supervision over social insurance funds.

The State Council and the people's governments of provinces, autonomous regions and municipalities directly under the Central Government shall establish and improve the supervision and management system of social insurance funds to ensure the safe and effective operation of social insurance funds.

People's governments at or above the county level shall take measures to encourage and support all sectors of society to participate in the supervision of social insurance funds.