Don't pay endowment insurance, just pay medical insurance, okay?

1. It is impossible for the company to pay medical insurance instead of endowment insurance for its employees.

2. Article 10 of the Social Insurance stipulates that employees shall participate in the basic old-age insurance, and the employer and employees shall jointly pay the basic old-age insurance premium.

Article 23 of the Social Insurance stipulates that employees shall participate in the basic medical insurance for employees, and employers and employees shall pay the basic medical insurance premiums in accordance with state regulations.

Article 33 of the Social Insurance Law stipulates that employees shall participate in work-related injury insurance, and the employer shall pay the work-related injury insurance premium, while employees shall not pay the work-related injury insurance premium.

Article 44 of the Social Insurance Law stipulates that employees should participate in unemployment insurance, and employers and employees should pay unemployment insurance premiums in accordance with state regulations.

Article 53 of the Social Insurance Law stipulates that employees should participate in maternity insurance, and employers should pay maternity insurance premiums in accordance with state regulations, while employees do not pay maternity insurance premiums.

3. Article 58 of the Social Insurance Law stipulates that the employer shall handle the social insurance registration for employees within 30 days from the date of employment. If the social insurance has not been registered, the social insurance agency shall verify the social insurance premium it should pay.

4. Article 60 of the Social Insurance Law stipulates that the employer shall declare on its own and pay social insurance premiums in full and on time, and shall not postpone or reduce the payment except for legal reasons such as force majeure. The social insurance premiums that employees should pay shall be withheld and remitted by the employer, and the employer shall inform me of the details of paying social insurance premiums on a monthly basis.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.