Does the company need to cancel the social security account?

Need. According to the provisions of the Social Insurance Law and the Interim Regulations on the Collection and Payment of Social Insurance Fees, that is, if the social insurance registration items of the employer are changed or the employer is terminated according to law, it shall go to the social insurance agency to change or cancel the social insurance registration within 30 days from the date of change or termination.

1. SocialInsurance refers to a social and economic system that provides income or compensation for people who are unable to work, temporarily unemployed or suffer losses due to health reasons. The main items of social insurance include endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance.

2. The social insurance plan is organized by the government, forcing a certain group to use part of its income as social insurance tax (fee) 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.