What is the purpose and significance of the company's social security for employees?

The company's handling of social security for employees is mandatory by law and has no purpose.

From the company's point of view, the company is unwilling to apply for social security, because the company accounts for the bulk of social security payment.

(Because according to the wages of employees, the proportion of units and individuals is generally: pension insurance units bear 2 1% (non-agricultural registered permanent residence) 14% (agricultural registered permanent residence), and individuals bear 8%; The medical insurance unit bears 8.5% and the individual bears 2%; Unemployment insurance unit undertakes 1%, and individual undertakes1%; 1% maternity insurance shall be borne by the unit; 0.4- 1.2% of industrial injury insurance is also borne by the unit, and individual employees do not bear maternity and industrial injury insurance. So the company actually gives more money than your salary.

To say meaning, that is the meaning of social security: to help employees face certain social risks such as unemployment, illness, accidents, aging and death. Or guarantee basic living resources such as education and medical care.

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