Article 14 of the Social Insurance Law of People's Republic of China (PRC) stipulates that

Article 14 of the Social Insurance Law of People's Republic of China (PRC) stipulates that the personal account of endowment insurance shall not be withdrawn in advance, and the bookkeeping interest rate shall not be lower than the bank time deposit interest rate, and interest tax shall be exempted.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.

In order to standardize the social insurance relationship, protect the legitimate rights and interests of citizens to participate in social insurance and enjoy social insurance benefits, enable citizens to share the fruits of development, and promote social harmony and stability, the Social Insurance Law of People's Republic of China (PRC) is formulated.

20 10 year 10 adopted at the 17th meeting of the 11th NPC Standing Committee on October 28th, and promulgated by Decree No.35 of the President of the People's Republic of China on October 28th, 201kloc-0/6 July 30th.

The Decision of the NPC Standing Committee on Amending the Social Insurance Law of People's Republic of China (PRC) has been adopted by the 7th meeting of the 13th NPC Standing Committee of People's Republic of China (PRC) on February 29th, 2008, and is hereby promulgated and shall come into force as of the date of promulgation.

The latest social insurance law includes general provisions, basic endowment insurance, basic medical insurance, industrial injury insurance, unemployment insurance, maternity insurance, social insurance premium collection, social insurance fund, social insurance handling, social insurance supervision, legal liability and supplementary provisions, with a total of 98 articles in 12 chapters.

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Chapter I General Provisions

Article 1 This Law is formulated in accordance with the Constitution for the purpose of adjusting the social insurance relationship, safeguarding citizens' legitimate rights and interests in participating in social insurance and enjoying social insurance benefits, enabling citizens to share the fruits of development and promoting social harmony and stability.

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, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law in case of old age, illness, industrial 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 4 Employers and individuals in People's Republic of China (PRC) shall pay social insurance premiums according to law, and have the right to inquire about payment records and personal rights and interests records, and ask social insurance agencies to provide social insurance consultation and other related services.

Individuals enjoy social insurance benefits according to law and have the right to supervise the payment of their own units.

Fifth people's governments at or above the county level shall incorporate social insurance into the national economic and social development plan.

The state raises social insurance funds through multiple channels. People's governments at or above the county level shall give necessary financial support to social insurance.

The state supports social insurance through preferential tax policies.

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.

Article 7 The administrative department of social insurance in the State Council is responsible for the management of social insurance throughout the country, and other relevant departments in the State Council are responsible for the relevant social insurance work within their respective functions and duties.

The social insurance administrative department of the local people's government at or above the county level shall be responsible for the social insurance management within its administrative area, and other relevant departments of the local people's government at or above the county level shall be responsible for the relevant social insurance work within their respective functions and duties.

Eighth social insurance agencies to provide social insurance services, responsible for social insurance registration, personal rights and interests records, social insurance benefits payment and other work.

Article 9 Trade unions shall safeguard the legitimate rights and interests of employees according to law, and have the right to participate in the research on major social insurance issues, participate in the social insurance supervision committee, and supervise matters related to employees' social insurance rights and interests.