How to handle the withholding of endowment insurance bank?

Legal analysis: the insured who has already handled the basic old-age insurance and medical insurance will open a personal settlement account (passbook) at the business outlets of commercial banks with their ID cards. If there is an existing personal settlement account (passbook) of a commercial bank, a new account (passbook) may not be opened, and the original account may be used as a withholding account. I signed an entrustment withholding agreement with the bank with my ID card and the Basic Information Form of Social Insurers in Guiyang issued by the social security agency.

Legal basis: People's Republic of China (PRC) Social Insurance Law.

Tenth employees should participate in the basic old-age insurance, and employers and employees should pay the basic old-age insurance premium.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium.

The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.

Eleventh basic old-age insurance to implement the combination of social pooling and individual accounts.

The basic old-age insurance fund consists of employers, individual contributions and government subsidies.